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.
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