Arthur-Andersen-DEF.docx - s F e Arthur Andersen was formerly one of the top 5 accounting and auditing firms in America until it was involved in one of

Arthur-Andersen-DEF.docx - s F e Arthur Andersen was...

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sFeSubmitted by:EDADES, OlaicaGALLARDO, MarianRILLERA, PrincessCAYAT, JezreelPALAD, JonelleArthur Andersen was formerly oneof the top 5 accounting and auditingfirms in America until it wasinvolved in one of the biggestfinancial scandals in US history.Causing billions of dollars andthousands of jobs lost over theunethical auditing and accounting ofEnron by Arthur Andersen.
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People who were involved and what happened to themDavid DuncanFigure 1 David DuncanDavid Duncan worked as the head auditor for Enron and worked as anemployee of Arthur Andersen for over 20 years before he was fired in 2002 forordering the shredding of records of Enron containing financial dealings andmisrepresentation of revenue values resulting in billions of dollars, jobs, andretirement plans lost over the course of the dealing of Arthur Andersen with Enron. Figure 2 Enron Scandal Infographic1 | P a g e
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He appeared before the United States Congress for questioning regarding thescandal. By April of 2002 he pleaded guilty for his crimes of obstruction of justice.David Duncan refused to answer the questions asked by congress under thecounsel of his lawyers.However, he withdrew his guilty plea in 2005 after charges against ArthurAndersen was overturned due to unanimous decision of the supreme justices overthe issue on jury instructions not being properly portrayed as Arthur Andersenbreaking the law they were accused of and failing to requisite consciousness ofwrongdoing. He is currently living in retirement in Houston, Texas.
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