Enron collapse may have implications for Airtours
Enron’s collapse may force Airtours to review its use of Andersen as the company’s auditors at its annual general meeting in Manchester this week.
It follows Andersen’s role in the collapse of US energy giant Enron. At the meeting on Thursday Airtours shareholders will be asked to approve the reappointment of Andersen, but some have already indicated they are unwilling to do so.
According to reports on ft.com, corporate governance consultancy Pirc is calling on its clients to oppose the reappointment of Andersen. Pirc has expressed concern about the fact that Airtours finance director David Jardine was a partner at Andersen until March 2000 before joining Airtours later in the year.
An Airtours spokeswoman told TravelMole that the company is satisfied with the service provided by Andersen, saying it provides “good value for money” and added that David Jardine’s appointment had been subject to “rigorous scrutiny.”
Airtours shareholders will also vote on the proposed name change to MyTravel at this week’s meeting.
For TravelMole users interested in the effect of Enron’s collapse on the accountancy profession, read: Enron: The story so far
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