Philosophy 2074F/G Chapter Notes -Financial Statement, Corporate Crime, Arthur Andersen
1 May 2013
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Document Summary
The worst of recent corporate corruption scandals. Enron"s collapse began in 2001 hen some independent stock analysts and journalists publicly raised questions about the value of enron"s stock. In october 2001, when arthur andersen auditors finally reversed their previous decisions and restated enron"s financial situations, the collapse of enron began in earnest. Enron"s collapse was mirrored by the collapse of its auditing firm, arthur andersen. Once one of the big 5 accounting firms driven out of business by its role in the enron scandal. Andersen admitted that it had shredded thousands of documents related to its enron audits. Justice department indicted arthur andersen on charges of obstruction of justice found guilty in a criminal trial of obstructing justice by shredding evidence relation to the enron scandal. Special purpose entities that were at the heart of the enron scandal. Evidence shows that andersen"s auditors had serious concerns about the validity of.
