Janet Tavakoli | Anorak

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AIG And A Voodoo Are Walking Down Wall Street

AS AIG, the world’s largest insurance company, continues to work its way through the best part of $125 billion, courtesy of the US taxpayers, its auditors PricewaterhouseCoopers must be nervously wondering whether they will suffer the same fate as Arthur Andersens, the massive accountancy firm destroyed by the Enron debacle.

PWC has covered its back to a certain extent; it insisted that AIG’s accounts disclosed a material weakness in the valuation of the credit default swaps.

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Posted: 30th, October 2008 | In: Money | Comments (3)