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Arthur Andersen also arrived less than rigorous scrutiny, As well as in March 2002, the U.S. Department of Justice indicted the firm for obstruction of justice. Customers desirous to assure buyers that their fiscal statements could fulfill the highest accounting standards deserted Andersen for its rivals. They were being shortly followed by Andersen staff and whole offices.
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Additionally, Many workforce top article were laid off. On June fifteen, Continued 2002, Arthur Andersen was uncovered responsible of shredding evidence and shed their license to have interaction in public accounting. 3 a long time afterwards, Andersen’s lawyers correctly persuaded the U.S. Supreme Court to unanimously overturn the obstruction of justice verdict on The idea of defective jury Directions. But by then, there was practically nothing still left of the organization outside of two hundred personnel taking care of its lawsuits.
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