Financial Services Industry
Industry: Email Alert RSS FeedThe fallout from the Enron scandal.
Financial News, January, 2002
Byline: Peter Wilson-Smith Editor-in-chief
The Enron scandal is shaping up to be one of those watersheds in the financial industry after which life will never quite be the same again.
There is a very real question mark over the future of Andersen, the accountancy firm that is up to its neck in the scandal. But the ramifications are going to spread far wider than the impact on a single accountancy firm.
The Enron collapse raises fundamental issues about the relationship between auditors and clients, about the effectiveness of US accounting standards and about the way executives are incentivised with performance-related pay and stock options.
As far as Andersen is concerned, the scandal is likely to have a devastating impact on its...
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