What famous accounting firm was involved in a scandel with the company it audited?

Question

About 4 or 5 years ago, one of the US accounting firms was involved in a scandal with a huge company that bilked shareholders out of millions. The accounting company also suffered major damage and may have been liquidated. What was the name of the accounting firm, the company it colluded with and the year (approximate) it occurred?

Answer 1

Arthur Andersen - now called Ascensure.

They used to be the #1 auditing company and suffered badly from the scandal but they did not liquidate. They sacked a whole pile of people, restructured and renamed in the international market. In the USA they surrendered their licence and were prosecuted.

It had problems with Enron but pointed out accounting practice failiures in Worldcom!

On May 31, 2005, the Supreme Court of the United States unanimously overturned Andersen's conviction but the damage had been done.

Answer 2

Just to give you the correct spelling, it is Arthur Andersen LLP, and it was not liquidated. Ironically, the company was cleared of wrongdoing by the US Supreme Court, on appeal. The company, although accused, was not convicted of wrongdoing after the US Supreme Court ruling.

Arthur Andersen LLP, based in Chicago, later named Andersen, was once one of the Big Five accounting firms, performing auditing, tax, and consulting services for large corporations. In 2002 the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the U.S. pending the result of prosecution by the Department of Justice over the firm's handling of the auditing of Enron, the energy corporation. One of the few revenue-generating assets that the Andersen firm still has is The Q Center, a conference and training facility outside of Chicago.

Answer 3

Your talking about Aurthur Anderson accounting firm and it was involved in the whole Enron scandal

Answer 4

Arthur Anderson

Answer 5

What planet do you live on ???? Authur Andersen