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Unformatted text preview: up to $750,000 personal, firm up to
– Destroy working papers within 5 years – fine
and up to 10 years. Arthur Andersen LLP, based in Chicago, was once
one of the "Big Five" accounting firms (the other
four are PricewaterhouseCoopers, Deloitte Touche
Tohmatsu, Ernst & Young and KPMG), performing
auditing, tax, and consulting services for large
auditing tax and consulting
In 2002 the firm voluntarily surrendered its
licenses to practice as
Certified Public Accountants in the U.S. pending
the result of prosecution by the
Department of Justice over the firm's handling of
the auditing of Enron, the energy corporation,
resulting in the loss of 85,000 jobs.
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This note was uploaded on 04/04/2013 for the course ACCOUNTING 310 taught by Professor Otto during the Winter '12 term at California State University Los Angeles .
- Winter '12