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Even so, its downfall in 2001 unveiled popular accounting fraud and led for the bankruptcy of the organization, leaving thousands of employees jobless and wiping out billions of bucks in shareholder price.
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Also, thousands of workforce have been laid off. On June 15, 2002, Arthur Andersen was identified responsible of shredding proof and lost their license to engage in general public accounting. 3 many years later, Andersen’s attorneys correctly persuaded the U.S. Supreme Court to unanimously overturn the obstruction of justice verdict on The idea of defective jury Recommendations. But by then, there was absolutely nothing left on the agency beyond 200 workers handling its lawsuits.
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