Corporate offices that were involved in Enron Company scandal.

Expert Solution

Corporarte offices involved in Enron Company Scandal

1. Arthur Andersen LLP

Following the 2001 scandal in which energy giant Enron was found to have reported $100bn in revenue through institutional and systematic accounting fraud, Andersen's performance and alleged complicity as an auditor came under intense scrutiny. The Powers Committee (appointed by Enron's board to look into the firm's accounting in October 2001) came to the following assessment: "The evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron's financial statements, or its obligation to bring to the attention of Enron's Board (or the Audit and Compliance Committee) concerns about Enron's internal contracts over the related-party transactions".^[12]

On June 15, 2002, Andersen was convicted of obstruction of justice for shredding documents related to its audit of Enron, resulting in the Enron scandal.

keosha answered 1 year ago

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Corporate offices that were involved in Enron Company scandal.

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