US DISSOLVED 2002

Arthur Andersen LLP

Former Big Five audit firm dissolved after criminal conviction for obstruction of justice in the Enron audit.

AUDIT FIRM RECORD
  • Audit Firm: Arthur Andersen LLP
  • Jurisdiction: US
  • Indexed Audit Cases: 8 major corporate fraud cases.
  • Regulatory History: Former Big Five audit firm dissolved after criminal conviction for obstruction of justice in the Enron audit.

CLIENT CASES INVOLVING ARTHUR ANDERSEN LLP

8 CASES IN LIBRARY
Case Title Jurisdiction Status Primary Scheme Overstatement Action Date
WorldCom: $11B Operating Expense Capitalization Fraud US Adjudicated capitalising operating expenses $11.0B June 26, 2002
Enron Corp.: Off-Balance-Sheet SPEs and Mark-to-Model Fabrication US Adjudicated off balance sheet entities $1.2B October 31, 2001
Waste Management: $3.5B Depreciation Useful Life Extension Scheme US Settled, neither admitted nor denied depreciation and useful life $3.5B September 20, 2000
Sunbeam Corporation: 'Chainsaw Al' Dunlap's Big Bath and Bill-and-Hold US Settled, neither admitted nor denied big bath $60.0M September 20, 2000
Global Crossing: Hundreds of Millions in Reciprocal Fiber Capacity Swaps US Settled, neither admitted nor denied round tripping $750.0M September 20, 2004
Qwest Communications: $3B Sham Optical Capacity Swaps and False Metrics US Settled, neither admitted nor denied round tripping $3.0B September 20, 2004
Dynegy: Project Alpha Financing Disguised as Operating Cash Flow US Settled, neither admitted nor denied round tripping $300.0M September 20, 2004
Arthur Andersen: Document Shredding and Obstruction of Justice in Enron Audit US Adjudicated workpaper alteration $0 September 20, 2003