The effects of the enron affair (Paras. 1-2) Para. 1: Effects 1-2 Effect 1: it eliminated arthur andersen as a major player in the auditing industry ( l6) Big Five→ Big Four Effect 2: It increased scrutiny on the accounting and professional services industry (L9)
The effects of the Enron affair (Paras. 1-2) • Para. 1: Effects 1-2 • Effect 1: It eliminated Arthur Andersen as a major player in the auditing industry (L6) – Big Five Big Four • Effect 2: It increased scrutiny on the accounting and professional services industry. (L9)
The effects of the enron affair (Paras. 1-2) Para. 2: Effects 3-5 Effect 3: It resulted in one of the largest bankruptcies in U.S. history, $32 billion lost in market capitalization, $1 billion lost in employee retirement accounts, and the first ever felony conviction of a public accounting firm(L1-4)
The effects of the Enron affair (Paras. 1-2) • Para. 2: Effects 3-5 • Effect 3: It resulted in one of the largest bankruptcies in U.S. history, $32 billion lost in market capitalization, $1 billion lost in employee retirement accounts, and the firstever felony conviction of a public accounting firm. (L1-4)