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Arthur Andersen also arrived beneath intense scrutiny, As well as in March 2002, the U.S. Section of Justice indicted the firm for obstruction of justice. Purchasers attempting to assure investors that their monetary statements could fulfill the highest accounting criteria deserted Andersen for its competitors. They were being soon followed by Andersen workforce and overall workplaces.
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The collapse of Enron, which held in excess of $sixty billion in belongings, involved one among the biggest personal bankruptcy filings while in the history from the United States, and it produced Substantially debate along with laws meant to enhance accounting benchmarks and techniques, with lengthy-Long lasting repercussions within the fiscal earth.
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