On June 15, Houthur Arthur Andersen-Das jury was sentenced to an 89-year audit company, which was once known as the gold standard of integrity during the examination. With the decline of Andersen, the US business structure will always change. However, other things have also changed: the scandal around Enron and Anderson, and the wave of other important bookkeeping scandals exposed in recent months, have made the US market have a worrying psychological impact. If we can’t trust the auditor, investors want to know who we can trust?
Emotional growth and amazing Enron asked many people why the company’s company’s supervision system should protect the company’s suspicious financial situation. But ANRON and Arthur Andersen are just the tip of the iceberg. In the 1990s, more than 700 companies in the United States had to correct misleading due to accounting errors, errors, errors, or direct fraud. Together with the greatest bankrupt in the history of the United States, it is estimated that this failed investor estimates that it costs about $ 200 billion.
ENRON’s closure at the end of 2001 inspired Congress and carried out emergency reforms. The House of Representatives and Senate held a hearing and proposed laws to reform the accounting industry. So far, there have been no invoices that have passed the two and signed them in the law. Instead, Harvey Pitt, President of SEC, has been criticizing too slowly for a long time. It is too soft for the audit company and announced a proposal to the new public responsibility on June 20. However, critics still say that his plan is too weak and wants to know if he is really ready to cross the accounting industry. This was represented by his top lawyer in Wall Street in the 1990s.
