Houston (June 18, 2004) -- Two years after Arthur Andersen's trial and conviction on a single count of obstruction of justice, three circuit court judges unanimously upheld a Houston jury's decision and denied the accounting firm's appeal to reverse the conviction, which effectively put an end to what was once the largest firm in the country.

The firm, once considered the "gold standard" of auditing, was found guilty on June 15, 2002, of destroying documents related to its audits of bankrupt energy giant Enron -- Andersen's largest client -- in an effort to keep them out of the hands of the Securities and Exchange Commission. Andersen ended its audit practice in August of 2002.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access