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The Enron scandal was a series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation in 2001 and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
On January 17, 2002, Enron dismissed Arthur Andersen as its auditor, citing its accounting advice and the destruction of documents. Andersen countered that it had already ended its relationship with the company when Enron became bankrupt.
For more than a half century, Arthur Andersen—cofounded as Andersen, DeLany & Co. in 1913 by Arthur E. Andersen, a young accounting professor who had a reputation for acting with integrity—was primarily an auditing firm focused on providing high-quality standardized audits.
Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations.
Jun 3, 2024 · In addition to CFO Andrew Fastow, a major player in the Enron scandal was Enron’s accounting firm, Arthur Andersen LLP, and partner David B. Duncan.
Aug 31, 2022 · In 2002, Arthur Andersen was convicted by a Houston jury of obstructing the government’s investigation into Enron and stopped auditing public companies on Aug. 31 of that year.
Aug 3, 2021 · Accountancy firm Arthur Andersen saw its reputation destroyed by the Enron scandal. In the UK, there was little or no reform in response to Enron. And according to Labour peer Prem Sikka,...
