Search results
Results from the WOW.Com Content Network
On May 31, 2005, in Arthur Andersen LLP v. United States, the Supreme Court unanimously reversed Andersen's conviction because of errors in the trial judge's jury instructions. The Supreme Court held that the instructions were too vague to allow a jury to find that obstruction of justice had occurred.
The Enron scandal was a series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation in 2001 and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
On January 17, 2002, Enron dismissed Arthur Andersen as its auditor, citing its accounting advice and the destruction of documents. Andersen countered that it had already ended its relationship with the company when Enron became bankrupt.
In June 2002, Arthur Andersen LLP was found guilty of obstructing justice for shredding Enron’s financial documents.
In 2002, Arthur Andersen was convicted by a Houston jury of obstructing the government’s investigation into Enron and stopped auditing public companies on Aug. 31 of that year.
The Andersen Effect gets its name from the former Chicago-based accounting firm Arthur Andersen LLP and its connection to what became known as the Enron scandal.
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 legal counsel instructs workers who audit Enron's books to destroy all but the most basic documents. October 16 • Enron reports a third-quarter loss of $618 million.
On June 15, 2002, Arthur Andersen was found guilty of shredding evidence and lost its license to engage in public accounting. Three years later, Andersen lawyers successfully persuaded the U.S. Supreme Court to unanimously overturn the obstruction of justice verdict on the basis of faulty jury instructions.
Accountancy firm Arthur Andersen saw its reputation destroyed by the Enron scandal. In the UK, there was little or no reform in response to Enron. And according to Labour peer Prem Sikka,...