U.S. financial services company Suntrust Banks has decided to replace its auditor, Arthur Andersen, which has been under attack because of its connection with the failed Enron corporation.

The move makes Suntrust one of the first major firms to break ties with Arthur Andersen, following the Enron debacle. Arthur Andersen had been Suntrust's auditor for the past 60 years.

Suntrust said its decision was the result of a regular review process and had nothing to do with Andersen's controversial audits of Enron. The company has chosen Price-Waterhouse-Coopers as its new auditor.

Some information for this report provided by Reuters and Bloomberg.

Email this article to a friend
Printer Friendly Version