The Arthur Anderson and Enron Scandals Essay.
The main purpose of this paper “Arthur Andersen after Enron Scandal” is to analyze the Arthur Company in Chicago looking at its progression and the StudentShare Our website is a unique platform where essay arthur andersen and the enron scandal students can share their papers in a matter of giving an example of the work to be done As a consultant to Enron as well as an auditor, Arthur.
Scandal Analysis: Enron, Arthur Andersen and Other Officials. Scandal Analysis: Enron, Arthur Andersen and Other Officials Washington, DC --The General Services Administration today suspended Enron Corp., related Enron corporate entities, several former Enron officials, Arthur Andersen, LLP, and a former Andersen official, from conducting new business with the Federal government.
Enron’s auditor was also accused of conducting business in an unethical manner in his attempt to retain the loyalty of Enron executives. At that time laws and SEC regulations allowed firms like Arthur Andersen to provide consulting services to a company and then turn around and provide the audited report about the financial results of these consulting activities, therefore making an.
The beginning of the Enron Company story can be considered as highly successful. The company presented itself as a good business with a perfect reputation.
Enron scandal, series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
For Arthur Andersen, strategic planning by management should have been implemented with regard to how the Enron crisis would affect organizational goals, a tactical plan to address the situation publicly and internally, an operational plan for conducting business during the crisis, and contingency planning to analyze every way possible to keep the organization from failing as a result of the.
Arthur Andersen LLP fails in its obligation to provide a true and fair view of Enron’s operations. This allows the company to continue its fraud over an extended period of time. At this time, rather than report to the board of directors, the audit firm directly reports to the company executives, which limits its independence significantly, as well as introduce a loophole in the mechanism.