Attestation Update – A&A for CPAs

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Posts Tagged ‘Arthur Andersen

To what purpose did Arthur Andersen die? Part 3

with 2 comments

First post in this series discussed an editorial in the Chicago Tribune concluding that Big 5 accounting firm Andersen died in vain.

Second post provides background on the large number of audit failures that surrounded Andersen.  The editorial provides background on the poor ethical environment of the firm.

David Albrecht, in his post 10 Years Later – Did Andersen Die in Vain?, has a very different answer to the question.

There was a purpose in the demise of Andersen.  Punishment

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Written by Jim Ulvog

March 22, 2012, 7:00 am at 7:00 am

Posted in Audits

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To what purpose did Arthur Andersen die? Part 2

with 3 comments

Previous post discussed a March 14, 2012 editorial in the Chicago Tribune which ponders what greater cause may have existed behind the 2002 collapse of Big 5 accounting firm Arthur Andersen. The editorial concluded that Andersen died in vain.

Methinks the editorial’s content argues against the editorial’s conclusion.

Let’s look at the pattern of behavior

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Written by Jim Ulvog

March 21, 2012, 7:59 am at 7:59 am

To what purpose did Arthur Andersen die? Part 1

with 4 comments

In a March 14, 2012 editorial, the Chicago Tribune ponders what greater cause may have existed behind the 2002 collapse of Big 5 accounting firm Arthur Andersen.

Their conclusion? Andersen died in vain.

David Albrecht, in his post 10 Years Later – Did Andersen Die in Vain?, reaches a very different conclusion. More on that in part 3 of this series. If this post has already caught your interest, you’ll enjoy reading his post now.

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Written by Jim Ulvog

March 20, 2012, 10:56 am at 10:56 am

Posted in Audits

Tagged with ,

What firm failed to find these fraudulent fiascos?

with 3 comments

Boston Chicken, Arizona Baptist Foundation, Sunbeam, Waste Management, Global Crossing, Enron, and WorldCom have one auditor in common.

Who was it?

Unfortunately, a chronicler of accounting history could pull together a list of disastrous audits for all the large firms. Perhaps the Grumpy Old Accountants, Professors Catanach and Ketz, could put that on their to-be-blogged-about list.

At the moment, they have provided a superb summary of each of the above fiascos in their post, Enron’s tenth anniversary: Arthur Andersen’s audit failures at Enron and elsewhere.

Just a few comments from me.

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Written by Jim Ulvog

November 21, 2011, 9:45 am at 9:45 am

Posted in Audits, Fraud

Tagged with ,