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Arthur Andersen was the largest public accounting firm in the 1990s, with more than 85,000 employees operating in 84 countries. During the last decade of the partnership's life, auditors at several regional offices failed to detect, ignored, or approved accounting frauds for large clients paying lucrative consulting fees, including Enron and WorldCom. In 2002, the partnership was found guilty of obstruction of justice for destroying documents related to the Enron audit, a decision later unanimously overturned by the United States Supreme Court.

Consulting Schemes

For more than half a century, Arthur Andersen, founded in 1913 by Arthur Andersen, who had a reputation for acting with integrity, was primarily an auditing firm focused on providing high-quality standardized audits. But a shift in emphasis during the 1970s pitted ...

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