Is the soft excess in active galactic nuclei real?

We systematically analyse all publicly available XMM-Newton spectra of radio-quiet PG quasars. The soft X-ray excess in these objects is well modelled by an additional, cool, Compton scattering region. However, the remarkably constant temperature derived for this component over the whole sample requires a puzzling fine tuning of the parameters. Instead, we propose that the soft excess is an artifact of strong, relativistically smeared, partially ionized absorption. The strong jump in opacity at ~0.7 keV from O VII, O VIII and iron can lead to an apparent soft excess below this energy, which is trivially constant since it depends on atomic processes. This can have a dramatic effect on the derived spectrum, which has implications for fitting the relativistic smearing of the reflected iron line emission from the disc.