Arthur Andersen s Enron Case - 918 Words

The case is about Arthur Andersen s role in accounting fraud at Enron; Enron was one of its Arthur Andersen major clients. The criminal charges faced by Andersen in the Enron case and how the case eventually led to the closure of the company. It was convicted in 2002 of one count of obstruction of justice because of its role in Enron’s auditing. After the conviction, the firm could no longer provide public accounting services. On June 15, 2002, Arthur Andersen was convicted of obstruction of justice for getting rid of the documents related to Enron’s accounting audit which resulted in the its scandal. The impact of the scandal combined with the criminal findings ultimately destroyed the Arthur Andersen LLP. Disregarded Enron’s accounting misbehave and misuse. The CFOs and controllers hired by Enron company were former Arthur Andersen LLP executives; By getting rid of all Enron’s documents, and Arthur Andersen LLP attorney altered documents related to its audit work for Enron, the company was handed the maximum penalty allowed under US law for its role in the collapse of Enron. Arthur Andersen LLP CPA License has been canceled, and the CEO at the time, Joseph Bernardini went to Jail. The company was fined $500,000 and sentenced to five years of probation. 2. Who was (were) the individual (s) and company (ies) involved The companies involved in the case were Arthur Andersen LLP and Enron. In addition to Enron, Arthur Andersen LLP was accused of being involved inShow MoreRelatedArthur Andersen And Enron Case Essay983 Words   |  4 Pages 1.What was the case about? (Summary of the Case) The case is about Arthur Andersen s role in accounting fraud at Enron which was one of its major clients. The criminal charges faced by the firm in the Enron case and how the Enron case eventually led to the closure of Arthur Andersen company. The company was convicted in 2002 of one count of obstruction of justice because of its role in Enron’s auditing. After the conviction, the firm could no longer provide public accounting services. On JuneRead MoreManagement Planning Paper on Arthur Andersen1221 Words   |  5 PagesPlanning Paper on Arthur Andersen Management Planning Paper on Arthur Andersen In 1913, the company Arthur Andersen started by Arthur Andersen and Clarence Delany by the name of Andersen, Delany, Co. In 1918, it was given the name Arthur Andersen Co. The company supplied tax, consulting services and auditing for the large business, and itself had a position in the Big Five accounting firms. 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