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Inside Arthur Andersen: Shifting Values, Unexpected Consequences
book

Inside Arthur Andersen: Shifting Values, Unexpected Consequences

by Susan E. Squires, Cynthia J. Smith, Lorna McDougall, William R. Yeack
June 2003
Intermediate to advanced
208 pages
4h 27m
English
Pearson
Content preview from Inside Arthur Andersen: Shifting Values, Unexpected Consequences

Chapter 9. Will Anything Really Change?

Regulating the Accounting Industry

In March 2003, Brendon McDonald, a former Arthur Andersen auditor, was arrested on charges that, in September 2001—a month before David Duncan began shredding at Enron—he had deleted emails, shredded documents, and otherwise helped American Tissue, a paper company, destroy records related to accusations of accounting fraud.[1] In March 2003, Bristol-Myers Squibb lowered revenue by $2.5 billion in a restatement of financials between 1999 and 2001, citing errors and inappropriate accounting.[2] About the same time, WorldCom announced that it had to write-down $79.8 billion in assets and goodwill.[3] The story of trouble in U.S. business continues to unfold.

Large public accounting ...

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Publisher Resources

ISBN: 0131408968Purchase book