The disintegration of the venerable accounting firm Arthur Anderson in the U.S. in 2004. The globally active firm had destroyed two tons of files of the floundering energy giant Enron in 2001, was therefore convicted by the U.S. Supreme Court in the last instance for obstruction of justice and forfeited its license in all 50 states of the U.S.. As a result, many shareholders lost their deposits and about 90,000 employees lost their jobs (Anderson was ranked 5th in the world). Anderson was also implicated in the 2002 collapse of WorldCom. – See activity-shifting, balance sheet-determined, angels, fall, consulting-audit mix, accounting scandal, accounting manipulative, regulatory arbitrage, principal-agent problem, Sarbanes-Oxley Act.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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