When was arthur andersen indicted

Companies should also demand detailed answers from Arthur Andersen about how it will approach projects, given its uncertain future, and what contingency plans it will set in motion, if needed, Ferrusi Ross said. IT decision-makers should also monitor any significant employee churn in the Arthur Andersen consulting teams they deal with, Ferrusi Ross said. Eventually, Arthur Andersen will have to separate its core audit business from its IT consulting unit, turning the latter into a separate company or selling it to another firm, said Efstathiou.

That echoes a mandate made this week by an oversight board entrusted with outlining reforms for Arthur Andersen. In addition to providing audit services to Enron, Arthur Andersen provided IT and other consulting services, which has led critics to question whether Arthur Andersen compromised the quality and integrity of the auditing in order to protect its lucrative consulting contracts.

Thus, accounting firms that also offer consulting services are feeling pressure to protect the independence of their auditors by getting rid of their nonaudit consulting services.

The one-count indictment download PDF , returned last week by a grand jury in the U. At a photo opportunity in the Oval Office, President Bush answered reporters' questions about the financial collapse of…. Secretary White testified about his activities while an executive in the Enron Corporation and allegations of improper manipulation….

More information about Arthur Andersen Indictments. Purchase a Download Arthur Andersen Indictments. This evening, the SEC announced temporary measures concerning Andersen, including a potential day extension for clients of the firm and guidelines for Andersen's ongoing audits. As Enron's auditor, Andersen was responsible for approving Enron's financial statements.

We'll notify you here with news about. Turn on desktop notifications for breaking stories about interest? A federal grand jury actually filed the indictment on March 7, but it was unsealed today. Comments 0. Top Stories. Man turned to heroin dealing to ease financial pressures of pandemic, court hears Sign In.

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