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Arthur Andersen LLP v. United States , 544 U.S. 696 (2005), was a United States Supreme Court case in which the Court unanimously overturned accounting firm Arthur Andersen 's conviction of obstruction of justice in the fraudulent activities and subsequent collapse of Enron .
Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations. By 2001, it had become one of the world's largest multinational corporations and was one of the "Big Five" accounting firms (along with Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers).
The brand was tarnished after Arthur Andersen became embroiled in the Enron scandal over 20 years ago. Now the Andersen Consulting name is being revived. Andersen Consulting, one of the best-known ...
Nancy Temple, second from the left, testifies with other Arthur Andersen witnesses on January 24, 2002. Nancy Anne Temple is an attorney specializing in accounting liability . She was the in-house attorney for Arthur Andersen , who advised Michael Odom and David B. Duncan about Arthur Andersen policies regarding retention of documents from ...
The Enron scandal turned into the indictment and criminal conviction of Big Five auditor Arthur Andersen on June 15, 2002. Although the conviction was overturned on May 31, 2005, by the Supreme Court of the United States , the firm ceased performing audits and split into multiple entities.
Enron logo. The Enron scandal was an accounting scandal sparked by American energy company Enron Corporation filing for bankruptcy after news of widespread internal fraud became public in October 2001, which led to the dissolution of its accounting firm, Arthur Andersen, previously one of the five largest in the world.
Arthur Andersen was criticized for being the only Big 5 audit firm to allow the partner in charge of an audit to override a ruling made by the quality control partner, and was found guilty in 2002 of obstruction of justice for shredding documents related to its audit of Enron, resulting in the Enron scandal. The Arthur Andersen story is now ...
Accounting firm Arthur Andersen was charged with obstruction of justice in 2002 for allegedly destroying and altering documents in anticipation of an investigation of the Enron scandal. [28] The company was convicted and effectively destroyed, though the conviction was later overturned. [29]