Arthur Andersen

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  • Managerial Economics: The History Of Arthur Andersen

    BUS 501 Managerial Economics Fall 2011 Arthur Anderson Mary Myrick-Saddler The History of Arthur Andersen Arthur Andersen LLP., was an accounting firm with an extensive history which is over a span of nearly 90 years, would become one of the Big five largest accounting firms in the United States. First of all, Arthur Andersen the person has been recognized as an important innovator of his professional period moreover, the accounting firm seen as the symbol of trust, integrity and ethic. He had little interest in creating just another accounting firm, but he intended from the start to create an enterprise based upon knowledge, information, and education. Andersen’s goals were set beyond standard practices of accounting, and his…

    Words: 2870 - Pages: 12
  • Enron Scandals In Auditing

    Enron - Scandals in Auditing Introduction: In 2000, Enron went from being one of America’s largest company, to filing for bankruptcy in 2001. This scandal is pinnacle in understanding how the regulation of auditing has reformed and how new legislation has been issued in an attempt to prevent such fraud from reoccurring. The number of stakeholders affected by such a scandal is unaccountable, from employees to governmental bodies and leading to the dissolution of the firms’ auditors, Arthur…

    Words: 1494 - Pages: 6
  • Enron Collapse Case Study

    In the early 2000s, the business world was rocked by a series of scandals in the business sector and many of which involved suspicious accounting activities. One of the largest of these failures was a company known as Enron. Due to their involvement with Enron, the Enron debacle is sometimes referred to as the Enron/ Arthur Andersen scandal. The inclusion of Arthur Andersen in the Enron scandal was due in part to the fact that Andersen handled the accounting for Enron for approximately sixteen…

    Words: 564 - Pages: 3
  • Case Study: Arthur Andersen V. Arthur Anderson

    Arizona state government agencies suing Arthur Andersen. More specifically, the litigation was brought by Arizona’s Corporation Commission (Securities Division), as well as the state’s attorney general. The principal allegation of the lawsuit is that Arthur Anderson ignored clear signs and evidence that one of its clients—the Baptist Foundation of Arizona (BFA)—was engaged in ongoing fraud. The firm’s response is that Arthur Andersen did everything it ought to have done. The response suggests…

    Words: 660 - Pages: 3
  • Arthur Andersen's Contribution To The Ethical And Financial Collapse Of Enron

    Arthur Andersen (AA) was a key contributor to the ethical and financial collapse of Enron. The accounting firm has not only been accused of looking the other way to fill their own pockets, but it is also very clear that they lacked independence. Culture has been to blame for the involvement of AA in numerous accounting scandals. When AA began it was not only an accounting audit firm, but it was also a consulting firm. In time, the consulting portion of the business was responsible for the bulk…

    Words: 725 - Pages: 3
  • Enron Scandal Essay

    Enron Corporation was an American energy, commodities, and Services Company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,000 staff and was one of the world leading electricity, natural gas, communications, and pulp and paper companies, with claimed revenues of nearly $101 billion in 2000. At the end of 2001, it was revealed that it’s reported financial condition was sustained substantially by institutionalized, systematic, and creatively…

    Words: 913 - Pages: 4
  • Enron Social Responsibility

    can make informed decisions about their career is an example of ethical responsibility. Discretionary responsibilities are voluntary actions of a company. Unlike ethical responsibility that is expected by the public, discretionary responsibility is not an expectation, but will help the company earn favor in the public’s eyes. A company providing onsite healthcare and daycare facilities is an example of discretionary responsibility. The public’s view of the company’s social responsibility…

    Words: 817 - Pages: 4
  • Phar Mor Fraud Case Study

    should’ve remained on the income statement. It was alleged by the SEC that Arthur Anderson, the auditing firm, allowed Waste Management to continue their improper accounting practices (Schroeder, 2001). By 2000, Waste Management was considered to have one of the biggest restement in SEC history (Schroeder, 2001). Prevention of the Waste Management Scandal from SOX. With Waste Management, there are several SOX sections that could have prevented this case. SOX Title IV, section 406, “Code of…

    Words: 1109 - Pages: 5
  • Enron Case Study Essay

    American companies; it was formally called the New York Stock Exchange. It was an American energy, services and Commodity Company. In 2001, before its bankruptcy, it had employed more than 20,000 employees. At that point it was the major electricity, communication, natural gas, pulp and Paper Company in the world. It was clamming revenue of $111 billion especially in 2000. After some time Enron scandal was heard. This scandal was that, their financial condition was sustained noticeably by an…

    Words: 1266 - Pages: 5
  • Virtue Ethics In Enron

    ran rampant with those at the top; deeming any action acceptable as long as it maximized a person’s own self-interest (Ferrell, Fraedrich, & Ferrell 157). Take Lou Pai, CEO of Enron Energy Services, who was infamous for using company money on strippers. This action, though to most unacceptable in the workplace, went unchecked because Pai brought in a large amount of capital (Enron: The Smartest Guys in the Room). Conflicts of interest were key in both Enron’s supposed success and in discovering…

    Words: 1390 - Pages: 6
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