MANY OF YOU will remember the headlines in October 2001 when the Enron scandal broke. What followed was not only the bankruptcy of the company, but a hefty prison sentence for CEO Jeffrey Skilling and other employees. This led to the de facto dissolution of Arthur Andersen, one of the Big Five accounting firms at the time. Cited as the biggest audit failure ever, the accountancy profession which had always played a 'behind the scenes part, was now front of stage. The ethic not just of Arthur Andersen, but the profession, was being scrutinised under a very bright light.
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