Word: enronitis
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...meter is running. The death of the Arthur Andersen firm, which dissolved after being found guilty of obstructing justice in the Enron case, reduced the Big Five accounting firms to the Final Four. That in part is why audit fees for FORTUNE 500 companies are expected to climb 38% this year, according to a survey by the Public Accounting Report. Top lines for accounting firms already look healthier. Ernst & Young booked a 17.4% revenue increase in its 2003 fiscal year, to $5.3 billion. Grant Thornton booked a 21% increase, to $485 million. The other winners? Smaller shops, which are absorbing...
...sure, those ladies who took their grandmothers' advice and married a doctor, a lawyer or an Enron executive may show up for work to "fulfill themselves" or to "expand their horizons." But for most women who, like me, came of age in the '90s, it comes down to dollars and cents, and the calculation is brutal...
...revenue to inflate earnings by all those billions and perpetuate the illusion that WorldCom was worth its lofty share price. When the hoax finally emerged, the stock went into a slow-motion collapse from 2000 through 2002, costing investors $180 billion--three times the amount of wealth destroyed at Enron...
...Former Enron CEO Jeff Skilling was accused of insider trading that helped net him $89 million in profits. Yet there is no chorus of voices charging him for talking down to people...
...Former Enron CEO Jeff Skilling was accused of insider trading that helped net him $89 million in profits. Yet there is no chorus of voices charging him for talking down to people...