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On June 15, 2002, Andersen was convicted of obstruction of justice for shredding documents related to its audit of Enron. Although the Supreme Court reversed the firm's conviction, the impact of the scandal combined with the findings of criminal complicity ultimately destroyed the firm.
Aug 31, 2022 · The accounting firm stopped auditing public companies on Aug. 31, 2002, and wound down its operations. Its demise turned the Big Five into the Big Four: Deloitte Touche Tohmatsu Ltd., Ernst ...
On June 15, 2002, Arthur Andersen was found guilty of shredding evidence and lost its license to engage in public accounting. Three years later, Andersen lawyers successfully persuaded the United States Supreme Court to unanimously overturn the obstruction of justice verdict on the basis of faulty jury instructions.
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,...
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.
Jun 17, 2002 · Enron's former accounting firm, Arthur Andersen, was found guilty Saturday of one count of obstruction of justice. The Houston jury took ten days to reach its verdict. Andersen said it...
