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The Enron Scandal: Arthur Anderson

Bienvenido Macario from the Philippines reports: "Before the Enron scandal, in July 2001, Arthur Andersen was fined by SEC for violiations regarding their client Waste Management Inc. I believe the fine was $5 million. I do not know how many Big 6 firms operate like AA, but Arthur Andersen is really a 4 dimensional outfit: the CPA audit arm, management consulting arm, employement or placement firm, and the "research" firm. There isn't even a single "Chinese firewall" between these operations. Arthur Andersen is notorious for hiring exceptional graduates from abroad for "internship" here in the US at slave wages. Among Asian "interns" the Filipinos are the lowest paid, yet they are among the best, having the ability to speak English".

Ronald Hilton - 1/26/02