Fernando's Business Ethics and Corporate Governance, 3rd Edition

Chapter 1

 Business Ethics: An Overview 33

(This case study is based on the information available

in print and electronic media and is meant for academic

purpose only. The authors have no intention to defame

the image either of the  rm or people discussed herein.)

INTRODCUTION

Arthur Anderson LLP was one of the ‘Big Five’

accounting and auditing  rms in US along with PWC,

Deloitte, E&Y, and KPMG. It was established by

Arthur E. Andersen and Clarence DeLany as Andersen

Delany Co. in 1913. In 1918, the  rm was renamed as

Arthur Andersen & Co. Andersen was the head of the

 rm until his death in 1947. Thereafter, Leonard Spacek

succeeded ...