Let’s suppose you own stock in some of the major corporations in order to finance your retirement years. And, since the Enron debacle, the boards of directors of those companies have stated that Arthur Andersen has been their auditing firm in the past and since they were satisfied with Andersen’s performance, they intend to retain their services. Of course, you know that Enron’s scandal is not the first time Andersen has been caught in fraudulent practices – they paid huge fines in the Sunbeam and Waste Management cases.
Now you have to ask yourself, does the board insist on retaining Andersen because they do good work, or because if they changed to a different auditor, their own false dealings would be exposed?
So now what do you do?
Arlington
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