Arthur Andersen

Arthur Andersen was one of the largest accounting and consulting firms in the world, established in 1913. It became famous for its auditing and financial consulting services, serving many major corporations. However, in the early 2000s, the firm was implicated in a scandal involving the auditing of Enron, a major energy company that collapsed due to accounting fraud. Arthur Andersen was found guilty of obstructing justice for shredding documents related to the Enron audit, leading to its loss of credibility and eventual dissolution in 2002. This case highlighted the critical importance of ethical standards in accounting.