Over and Above?

July 10, 2002

Andersen video puts Cheney on spot

In the video Mr Cheney - then Chief Executive of the oil company Halliburton - describes how Andersen gave advice "over and above" what would normally be expected from auditors.

"I get good advice, if you will, from their people based upon how we're doing business and how we're operating over and above the just sort of normal by-the-book auditing arrangement," Mr Cheney says in a short section of the video.

What kind of advice was that?

"Andersen showed me how to construct a complicated series of offshore holding corporations that would allow me to show phony profits to my shareholders, while avoiding paying taxes to the government and making myself personally wealthy at the expense of my employees. Thanks, Andersen!"

"Before we hired Andersen as our auditor, I was afraid that we'd have to lay off some employees. After Andersen, I was able to cash in and get out before anyone else noticed that we were losing billions of dollars a month. Thanks, Andersen!"

"With my last auditor, I could never get in contact with a partner when I needed to. With Andersen, I can get great advice whenever I need it. My auditor has helped me through troubles with my love life and taken my phone calls at 4 AM. Andersen even bailed me out after a DWI incident. Thanks, Andersen!"

Posted by Andrew Raff at July 10, 2002 11:35 AM
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