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After watching a documentary on Enron, and the collapse of Arthur Anderson, I thought we were past this. But I am now wondering what the future looks like for a

After watching a documentary on Enron, and the collapse of Arthur Anderson, I thought we were past this. But I am now wondering what the future looks like for auditors, and particularly the auditors involved at Wirecard. I’m looking forward to watching a documentary on this too, in 5-10 years but I feel bad for the honest employees there

Cactus2018 6y ago
Wirecard+Ernst&Young is a sequel to the Enron+ArthurAndersen documentary > "60% of the total Andersen practices globally merged into Ernst & Young," https://en.wikipedia.org/wiki/Arthur_Andersen https://en.wikipedia.org/wiki/Arthur_Andersen
- mardifoufs 6y ago
  And the rest rebranded to... Accenture. Interesting legacy
  - fmajid 6y ago
    Accenture used to be Andersen Consulting, and was spun off long before the Enron scandal. Arthur Andersen accounting would have been absorbed by E&Y's accounting branch. Accounting firms have huge conflicts of interest because companies are allowed to choose their own auditors, but when they also offer consulting services, the conflict becomes even more egregious.
    - teambayleaf 6y ago
      Right. And IIRC Arthur Andersen and Accenture had been kinda hostile to each other for a long time. It was funny because they seemed pretty much like brother companies from outside eyes. The trouble was that AA kept trying to invade the turf (= juicy consulting gigs) and it made partners of Accenture mad.