Quote:
Originally Posted by Sgran
You make a lot of good points, but don't forget that it was Arthur Andersen that was asleep at the wheel. People I know who worked for AA said it was the day that AA went into consulting that sealed the fate of the company because the integrity needed on the auditing side got trumped by the profit margins demanded by the consulting side. Towards the end of its lifetime the consultants were calling all the shots at AA, and if I remember right the AA consultants came up with a lot of the shady schemes Enron used.
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A good point, and one I didn't mention mainly for the sake of brevity. Though I wouldn't term AA as "asleep at the wheel". I think the evidence (much of it now shredded, sadly) tended to show that they were a willing participant in some parts of the creative accounting.