Perhaps the greatest financial scandals in history is that of Enron Corporation in 2001 which not only led to the bankruptcy of the said billion dollar company, but as well as the dissolution of Arthur Andersen LLP, one of the largest auditing firms in the world then. The main issues which resulted to the collapse of such giant companies are the improper accounting practices used to conceal financial struggles of Enron and the breach of its auditor’s independence, assisting with the former’s unethical practices. Read More
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