Arthur Andersen LLP gave Enron a clean bill of health too, IIRC. That pretty much killed the accounting firm.
Your memory cells are still fully functional.
Arthur Andersen LLP gave Enron a clean bill of health too, IIRC. That pretty much killed the accounting firm.
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Uhhhh ..... Did you train under Jelly Yellen?
The SCOTUS unanimously cleared the Arthur Andersen accounting firm of the charges on which they had been found guilty.
So I would say the Enron thing was not helpful.
But being in a furor to try the case in the press was the real death blow.
I worked for a Big 6 firm (unnamed) back in the day. It was a real eyeopener.
Money was virtually no object. We got things done.
Lotsa long hours.
This was in the days of Enron, Phar-Mor...
About 80% of Enron profits came from its petroleum futures trading company.
When the Feds publicly announced an investigation into Enron accounting, transactions at the Enron trading company dropped to zero.
No professional oil trader is going to do business with a company that may not be able to fulfill the other side of a contract.
At least 50% of Enron's value, and 95% of Arthur Andersen, could have been preserved if the DOJ and SEC had not deliberately destroyed them.