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- A federal jury convicted Arthur Andersen today of obstruction of justice for impeding an investigation by securities regulators into the financial debacle at Enron. Soon afterward, Andersen informed the government that it would cease auditing public companies as soon as the end of August, effectively ending the life of the 89-year-old firm.
www.nytimes.com/2002/06/16/business/andersen-guilty-in-effort-to-block-inquiry-on-enron.html
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Aug 31, 2022 · Two decades after Arthur Andersen LLP’s downfall, the firm that audited Enron Corp.’s financial statements remains a punchline for many, though some prefer to remember it as an influential...
Jan 16, 2002 · Arthur Andersen fired its partner in charge of auditing the Enron Corporation today, saying he had ordered the destruction of thousands of documents and e-mail messages after learning that the...
Oct 28, 2011 · Ten years ago this week, the accounting firm Arthur Andersen sealed its fate when a few partners in its Houston office decided to shred documents related to the collapse of one of its clients,...
Feb 7, 2013 · The good news for S.& P. is that it faces only civil liability from the suit filed this week by the Justice Department. It was the criminal complaint against Andersen that sealed the firm’s fate.
The firm collapsed by mid-2002, as details of its questionable accounting practices for energy company Enron and telecommunications company WorldCom were revealed amid the two high-profile bankruptcies. The scandals were a factor in the enactment of the Sarbanes–Oxley Act of 2002. History. Founding. Arthur E. Andersen.
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,...
Sep 20, 2024 · 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.
