Arthur Anderson DB 3 - Arthur Anderson (AA) has been...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Arthur Anderson (AA) has been associated with the some of the most notorious scandals in recent history: Waste Management and Sunbeam in 1999, Enron in 2001, and WorldCom in 2002. At the height of their success AA was considered one of the “Big 5” accounting firms in the United States. Now AA has been dismantled and is no longer in existence due to continuous misuse of data and scandal. AA on more than one occasion with multiple clients “cooked” the books of companies. “Cooking the books” is a financial buzz word describing activities performed by corporations to falsify financial statements ( www.dictionary.com ). AA manipulated financial statements of companies by not fully disclosing the firms’ financial practices in their reports, hiding debt, inflating revenues, inflating total assets via capitalization, understating depreciation expenses of companies on reports, and a numerous of other unethical acts I cannot even comprehend. AA was guilty of the slippery slope of unethical behavior (Bazerman & Moore, 2009). “According
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Arthur Anderson DB 3 - Arthur Anderson (AA) has been...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online