The Enron scandal may administer the coup de grace to the public accounting profession. Already last rites are being said for Arthur Andersen, one of the big five accounting firms. Andersen is under siege after destroying crucial documents relating to the Enron audit There are two scenarios being banded about concerning the future of private auditing firms. At one extreme, optimistic pundits refuse to believe that Andersen is history. They predict that the firm can clean house, restructure, change its name and survive. Also, partners at other firms will realize that their bending of rules to pacify large clients cannot … Continue reading Public Accounting, RIP