United Fire & Casualty Co. has chosen Ernst & Young LLP as its independent auditors, replacing Arthur Andersen LLP, according to a Dow Jones report.
Concerns about Andersen’s continued availability in the auditing profession served as impetus for the company to change auditors.
Andersen, which was convicted June 15 on a criminal-obstruction charge involving the reported shredding of documents related to former client Enron Corp. is set to cease its auditing practices by Aug. 31.
UF&C remarked that the decision was not the result of any disagreement with Andersen concerning the matters of accounting principles or practice, financial statement disclosure, or auditing scope or procedure.
Topics Casualty
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