Search results
Results From The WOW.Com Content Network
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).
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.
Based on the first-person book by Brian Cruver, Anatomy of Greed, The Crooked E television movie chronicles the rise and fall of the Houston-based Enron Corporation. The film offers the perspective of Cruver, played by Christian Kane, depicted as a brilliant but naïve young salesman who was seduced by the company's "get rich quick" mantra.
A. O. Scott of The New York Times wrote that: "This sober, informative chronicle of the biggest business scandal of the decade is almost indecently entertaining." Owen Gleiberman called the film: "A nimble investigative workout that leaves you with the exhilarated sensation of understanding the defining financial scandal of the virtual era." [12]
For premium support please call: 800-290-4726 more ways to reach us
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 filed for bankruptcy on December 2, 2001. In addition, the scandal caused the dissolution of Arthur Andersen, which at the time was one of the Big Five of the world's accounting firms. The company was found guilty of obstruction of justice in 2002 for destroying documents related to the Enron audit. [53]