Arthur Andersen Essays

  • Arthur Andersen Failure

    1136 Words  | 5 Pages

    Up until a number of years ago, Arthur Andersen was considered as one of the then Big 5 auditing companies around the world. The company knew its beginning in 1913 through Arthur E. Andersen who formed a partnership with Clarence M. Delaney in order to set up Andersen, Delaney & Co. Unfortunately, however, the partners split 5 years later and the company’s name became exclusively Arthur Andersen. Mr. Andersen died in 1947; however, his successor Leonard Spacek led the company to successful periods

  • Arthur Andersen Research Paper

    1195 Words  | 5 Pages

    Today, Arthur Andersen & Co. is notoriously known for its’ unethical behavior of collusion with Enron, leading to thousands of hard working Americans losing millions of dollars. This type of behavior shows how far Arthur Andersen & Co. has strayed from its original foundation of honesty and integrity, instilled in it by the founder and senior partner Arthur E. Andersen. Originally named Arthur, DeLany & Co. in 1913 then soon changed to Arthur Andersen & Co., Andersen sought to challenge the status

  • Arthur Andersen Case Study

    1816 Words  | 8 Pages

    Arthur Andersen’s Fall Arthur Andersen – Arthur Andersen was one of the Big Five accounting firms along with PWC, EY, KPMG and Deloitte providing auditing and consulting to corporations. It was founded on 1st December, 1913 by a Norwegian Arthur Andersen and Clarence DeLany as Andersen DeLany & Co. The firm changed name to Arthur Andersen & Co. in 1918. Arthur Andersen always maintained high standards and ethics in the accounting industry, especially till the death of Mr.Andersen. In 1914, Mr.Andersen

  • Enron's Financial Scandal

    1017 Words  | 5 Pages

    Arthur Andersen was an accounting firm founded by Arthur Andersen in 1918. The company eventually grew to be one of the Big 5 accounting firms. Arthur Andersen gained Enron as a client in 1986, where it provided external and internal auditing, as well as consulting services. “A chief auditor of Andersen Accounting named David Duncan, who was assigned to hand AA’s Enron account, turned a blind eye to all these accounting manipulations” (Cantoria, 2011). Arthur Andersen was aware of the

  • Ethical Behavior In Accounting

    1818 Words  | 8 Pages

    consolidating these special purpose entities. As a result, Enron’s balance sheet understated its liabilities and overstated its equity and its earnings” (Healy and Palepu, 2003, p. 11). This scandal also led to the downfall of the accounting firm Arthur Andersen due to Enron executives pressuring the firm to ignore issues during their audits and the firm shredding

  • The Worldcom Fraud Case

    2107 Words  | 9 Pages

    Background WorldCom, once known as one of the most powerful telecommunication organizations of the world, is now studied as a case of a fraudulent company that carried out unethical financial activities to cover its weakening position in the market. After some aggressive investment decisions, the company started to witness huge financial pressure. The management used various forged accounting entries to conceal its weakening position. Cynthia Cooper, Vice President Internal Audit, discovered the

  • Fraud Case Study: Refco Inc.

    1393 Words  | 6 Pages

    Timeline: Refco Inc. announced on October 10, 2005 that it’s CEO and chairman, Phillip R. Bennett had hidden information about $430 million in bad debts from the company's auditors and investors, and that now he had agreed to take a leave of absence. It was discovered through an internal review over the preceding weekend that a receivable was owed to the company by an unnamed entity that eventually turned out to be controlled by Mr Bennett, as much as approximately US$430 million. It was later known

  • Senglas Inc. Case Study

    867 Words  | 4 Pages

    Case Summary: James Tilden is the HR Manager for SenGlas, Inc., a 50+ year company that currently has 7 management staff members and 300 employees. On Friday, Mary Booth, the shipping coordinator, came to Tilden to file a complaint against one of her co-workers, Bob Simonsky, for his harassing behavior toward her. Booth, a 5 year employee, accused Simonsky, a 20 year employee, of behaving in a threatening manner due to his negative feelings about working directly with women. Booth states that the

  • Hyatt Hotel Case Study

    981 Words  | 4 Pages

    Argument 1 1. Analyze the organizational culture and values of the Hyatt hotel and link them to executive’s actions in leadership position. A. In what way does the organizational culture, values and style agree or disagree with the action executives/leaders take or not take to avoid an escalation of the case? In every organization there must be the composition invisible culture takes place within such organization. Each organization is unique from each other that because each culture is an aggregate

  • Enron Case Study

    1521 Words  | 7 Pages

    Q1: what were the individual factors that have contributed to the failure of Enron? The first individual factor that contributed to the failure of Enron is the greed of the leadership. The video shows that many leaders have corruption. For example, Lou Pai has fled from Enron Energy Service with a gain of $250 million in order to marry his stripper girlfriend and his corruption caused a loss of about $1 billion (Fredy 2015). Louis Borget and Andy Fastow siphoned off $3 million and $45 million respectively

  • Business Analysis: Wells Fargo

    647 Words  | 3 Pages

    Step One: Identify and define the problem • Wells Fargo, one of the largest banks in the United States was recently fined $185 million because of a widespread scheme that employees created to collect fees and hit sales targets. These employees opened up over 1.5 million deposit accounts that were reported to be not authorized by customers. This scheme has been going on since 2011 without any acknowledgment until recently when customers were being charged with overdraft fees and insufficient funds

  • Enron's Ethical Dilemma

    1156 Words  | 5 Pages

    Enron's starting points go back to 1985 when it started life as an interstate pipeline organization through the merger of Houston Natural Gas and Omaha-based InterNorth. Kenneth Lay, the previous CEO Officer of Houston Natural Gas, became CEO, and the following year won the post of administrator. (CBC News, 2006.) Enron is an example of corporations that has faced bankruptcy in the recent past because of the numerous problems it had with federal and state governments for manipulation of financial

  • Tacoma Narrows Bridge Case Study

    1170 Words  | 5 Pages

    The Tacoma Narrows Bridge opened to the public on 1 July 1940, construction having been completed in just one year and seven months. It had a span of 1810 metres, the third longest in the world at the time, and promised to bring great economic growth to the Kitsap Peninsula in the US state of Washington. However, after its spectacular collapse on 7 November 1940, just four months after its completion, the Tacoma Narrows suspension bridge is now remembered as one of the most famous structural failures

  • Case Study: Ashley Alford Vs. Aaron's Inc.

    836 Words  | 4 Pages

    Question 1 Ashley Alford vs Aaron’s Inc Ashley Alford was in 2011-awarded $ 95 million after winning a sexual harassment case against Aaron Inc. The award that Alford received included $ 80 million for punitive damages and $ 15 million in compensation. In the federal court, Aaron’s Inc a rent to own organization was found liable for the abuse that Alford suffered as she worked at Fairview Heights. The sexual harassment case culminated from Richard Moore, a store manager having lifted Alford, flung

  • The Importance Of Pay Raise

    756 Words  | 4 Pages

    Pay Raise: 5 Financial Mistakes You’re Probably Making… And Don’t Even Know It I can still remember vividly how imprudent I was when I got my first promotion at work. You know that kind of feeling you get when you just received a huge chunk of money. It was the first time I owned that kind of money, so I felt on top of the world. The first thing that came to my mind was shopping. It suddenly occurred to me that I had so many things I needed to purchase and this was the moment I had been waiting for

  • Pros And Cons Of Coal Mining

    1392 Words  | 6 Pages

    Indian Coal Mining Controversy which is also known as Coalgate Scandal. Coal mining controversy is a political controversy highlighting the nation’s irregularities in the matter of handling national coal deposits. Another scam in a history of Indian, Coal mining controversy is major fraud in 2012, which involved Rs 1, 86, 000 Cr losses to exchequer. This is serious allegation against Prime Minister of India Dr Manmohan Singh who is in a serious scrutiny of the CAG which leads to protest against

  • Volkswagen (VW) Emission Scandal

    930 Words  | 4 Pages

    Introduction The Volkswagen (VW) emission scandal is not an isolated case in recent history wherein a global company faced a gargantuan problem that is almost next to impossible to resolve. British Petroleum paid a whopping $20 billion settlement five years after the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. (Griffin, et. al., 2015) Unfortunately, the Volkswagen scandal did irreparable damage to Germany's brand compared with British Petroleum or any other “trade scandal” because the

  • Lehman Brothers: Financial Fraud In 2008

    2178 Words  | 9 Pages

    Executive Summary Lehman Brothers were an investment bank involved in transactions worth billions of dollars and one of the most powerful investment banks in the world. Lehman Brothers collapsed in 2008 following bad investment in the sub-prime mortgage market and used bad accounting practices called Repo 105 transactions to try and cover up the bad assets. This report sets out the use of the fraud triangle when describing the actions which led to the collapse. The pressure applied on the bank

  • Business Case Analysis: Enron's Ethics Policies

    918 Words  | 4 Pages

    M7A1 Case Analysis: Enron’s Ethics Policies Gary Pace Excelsior College Business Ethics BUS323 Professor Pao INTRODUCTION/SITUATIONAL ANALYSIS The object of this case analysis examined the ethics program of the Eron Corporation. The case analysis examines the Enron’s organizational culture that led to multiple counts of security fraud and its bankruptcy, in December 2011. Although, there are many contributing factors to the demise of the gas company, the major factor was its unethical

  • Wells Fargo Billing Glitch In Wells Fargo

    755 Words  | 4 Pages

    On January 17, Wells Fargo had a huge billing glitch that messed with many people’s accounts. Wells Fargo is a financial services company headquartered in San Francisco. Wells Fargo double-charged an unknown number of customers due to a technical error. The glitch reportedly affects customers registered to pay their bills automatically online. Wells Fargo promised that they would refund any related fees or charges to their customers who received the glitch. Many of the people affected were voicing