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BHPB appoints external auditors, dumps Andersen

The board of BHP Billiton has appointed KPMG and PricewaterhouseCoopers as joint auditors from th...

At the time of the merger, BHPB said it would limit the tendering parties to KPMG, PricewaterhouseCoopers and Andersen.

The company told the stock exchange its Risk Management and Audit Committee will work with all three auditors to ensure a smooth transition from Andersen.

In making the announcement, BHPB reiterated its policy that non-audit work is prohibited where independence may be compromised or conflicts arise.

The reputation of American accounting firm Andersen took a hammering in the wake of the Enron collapse, which was the largest in US corporate history.

Many commentators blame the accounting firm for its role in covering up the complex financial labyrinth that ultimately led to the collapse of the one-time energy trading giant.

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