May 31, 200520 yr No details yet on this, but the Supreme Court overturned the conviction of Arthur Anderson on their audit of Enron. I wonder if it was a trial technicality or real evidence that says that AA wasn't at fault? This will have interesting ramifcations on Wall Street in the long run about the assurances auditors provide.
May 31, 200520 yr QUOTE(kapkomet @ May 31, 2005 -> 09:19 AM) No details yet on this, but the Supreme Court overturned the conviction of Arthur Anderson on their audit of Enron. I wonder if it was a trial technicality or real evidence that says that AA wasn't at fault? This will have interesting ramifcations on Wall Street in the long run about the assurances auditors provide. It has got to be on a technicality, because everything that I have read, had AA and Enron in bed together tighter than inbreeders. Both of those companies need the book thrown at them hard core.
May 31, 200520 yr Wow. There is still no chance of AA getting back into the game is there? It's funny cuz like a year before the Enron scandal broke, one of my HS teachers told us how his son-in-law was offered a great job at AA but turned it down and he didn't understand why. I guess he lucked out on that one.
May 31, 200520 yr It was a technicality. The jury instructions were "flawed" http://abcnews.go.com/Politics/wireStory?id=806045
May 31, 200520 yr QUOTE(DonkeyKongerko @ May 31, 2005 -> 06:57 AM) Wow. There is still no chance of AA getting back into the game is there? It's funny cuz like a year before the Enron scandal broke, one of my HS teachers told us how his son-in-law was offered a great job at AA but turned it down and he didn't understand why. I guess he lucked out on that one. No, AA isn't allowed to practice. The only AA employees left are the attorneys that are around and the few people helping with the handling of all their lawsuits. AA was really really screwing up and it wasn't just in the Enron audit.
May 31, 200520 yr Author QUOTE(Queen Prawn @ May 31, 2005 -> 05:16 PM) Sounds like bulls*** to me. They can be tried again, right? Nope. Acquittal means they're off. But, they're out of business anyway, so it doesn't matter much.
May 31, 200520 yr QUOTE(Chisoxfn @ May 31, 2005 -> 01:48 PM) KPMG is the next most likely to pull an AA, imo. And in the opinion of many others in the Accounting world.. There's been rumors that the g'ment is this/close to indictments on similar grounds.
May 31, 200520 yr QUOTE(kapkomet @ May 31, 2005 -> 01:00 PM) Nope. Acquittal means they're off. But, they're out of business anyway, so it doesn't matter much. Oh - I thought it was a guilty verdict that was over-turned. Wasn't sure how that worked.
May 31, 200520 yr Makes me glad that I'm a Finance Major. But it's not like the job market is all that great anyways. Going to be a FUN time locking down a job this year.
May 31, 200520 yr QUOTE(Fotop @ May 31, 2005 -> 04:02 PM) Makes me glad that I'm a Finance Major. But it's not like the job market is all that great anyways. Going to be a FUN time locking down a job this year. Lean a bit more towards the analyst end of things and you'll be fine. When I was thinking about changing jobs I got 19 calls, went on 5 interviews, and got offers from all of them. I just noticed you're from the Addison area... I might be able to hook you up with some leads if you're interested.
May 31, 200520 yr QUOTE(Steff @ May 31, 2005 -> 04:04 PM) Lean a bit more towards the analyst end of things and you'll be fine. When I was thinking about changing jobs I got 19 calls, went on 5 interviews, and got offers from all of them. I just noticed you're from the Addison area... I might be able to hook you up with some leads if you're interested. After striking out on the intern front, I'm willing to take all the help I can get. But, sure I'd be interested in any help you could offer Steff, thanks.
May 31, 200520 yr QUOTE(Fotop @ May 31, 2005 -> 01:02 PM) Makes me glad that I'm a Finance Major. But it's not like the job market is all that great anyways. Going to be a FUN time locking down a job this year. Trust me, the grass is very green on the accounting side. With the additional SOX (Sarbanes Oxley..the 404 audit) work all the major firms are understaffed and they are hiring like crazy.
May 31, 200520 yr Whats worse with KPMG is the firm is bailing on its partners and not protecting them on lawsuits. I've heard a lot of KPMG's real good partners are leaving too. I know they've had a lot of problems with tax shelters (the not so legal kind) and than on the audit side they haven't exactly been conservative.
May 31, 200520 yr QUOTE(Fotop @ May 31, 2005 -> 04:21 PM) After striking out on the intern front, I'm willing to take all the help I can get. But, sure I'd be interested in any help you could offer Steff, thanks. I just sent you a PM.
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