Enron Mugs
Description: WorldCom was not just the biggest accounting scandal in the history of the United States, but it was also one of the biggest bankruptcies. Considered a telecommunications giant, the revelation that it had cooked its books came on the heels of the Enron and Tyco frauds, which had rocked the financial markets. However, the scale of the WorldCom fraud put even them in the shade. This spate of corporate crime led to the Sarbanes-Oxley Act in July 2002, which strengthened disclosure requirements and the penalties for fraudulent accounting. However, WorldCom left a stain on the reputation of accounting firms, investment banks and credit rating agencies that has never quite been removed.
Description: Arthur Andersen LLP was an American holding company based in Chicago. Formerly one of the "Big Five" accounting firms, (along with PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG), the company had provided auditing, tax and consulting services to large corporations. By 2001, it had become one of the world's largest multinational companies. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's auditing of Enron, an energy corporation based in Texas, which had filed for bankruptcy in 2001.
Description: Arthur Andersen LLP was an American holding company based in Chicago. Formerly one of the "Big Five" accounting firms, (along with PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG), the company had provided auditing, tax and consulting services to large corporations. By 2001, it had become one of the world's largest multinational companies. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's auditing of Enron, an energy corporation based in Texas, which had filed for bankruptcy in 2001.
Arthur Andersen & Co Logo - Defunct Accounting Firm - Corporate Crime Humor Mug
by sinarmatahariii
$18
