tag:blogger.com,1999:blog-51885042557459804062024-08-30T09:53:12.971-07:00Occasionally I will chime in with a shot of information or discussion topic.Scooter McGeehttp://www.blogger.com/profile/03753390014043698230noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5188504255745980406.post-55617620459890699632011-02-11T12:12:00.000-08:002011-02-14T17:47:56.170-08:00Although a once popular topic, Enron and the former CPA firm of Arthur Andersen are no longer main stream topics of discussion aside from business classes discussing the dreadful SOX act. Well, believe it or not, the good 'ole folks at Aurthur Andersen popped into my head the other day. The once mighty CPA firm had the motto, for over forty years I might add, "Think Straight, Talk Straight". Ironically, the folks at Arthur Andersen had a lot to do the the several billion dollar fraud that brought down the powerful energy corporation Enron. How much straight thinking and straight talking was taking place on Enron's balance sheet and income statement? Enron's faulty accounting practices and Arthur Andersen's failure to disclose said practices in the annual audit cost unlucky Americans billions of dollars. Consider the individuals in the company not working on the Enron account, practicing honestly. Unethical behavior by their colleagues cost them their job and their financial security. I think old Arthur was rolling in his grave in 2002 when the once mighty firm he created surrendered its license to practice due to the shady behavior of a select few. The firm could re-establish its self and ultimately practice again but word of advice, if you see a financial statement certified by Arthur Andersen, turn and run away!Scooter McGeehttp://www.blogger.com/profile/03753390014043698230noreply@blogger.com3