Can anyone help me with this?
What was the prime motivation behind the decisions of Arthur Andersen’s audit partners on the Enron, WorldCom, Waste Management, and Sunbeam audits: the public interest or something else?
Isn't that answer obvious?
What do you think?
Well I do not think it was in the publics intersest but besides the interset of the shareholers what else is there?
It was obviously in Arthur Andersen's and the companies' interest to do improper audits.
Check this article.
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To explore the prime motivation behind the decisions of Arthur Andersen's audit partners on the Enron, WorldCom, Waste Management, and Sunbeam audits, we need to consider several factors and historical context.
1. Research: Start by gathering information about the respective audits and the events surrounding them. Look for reputable sources such as news articles, academic papers, or books that provide insights into the motivations of Arthur Andersen's audit partners during those audits.
2. Analyze Financial Statements: Examine the financial statements of Enron, WorldCom, Waste Management, and Sunbeam. Identify any irregularities, inconsistencies, or fraudulent activities that were later discovered. Understand how these fraudulent activities could have influenced the decision-making process of the audit partners involved.
3. Regulatory Requirements: Familiarize yourself with the regulatory requirements that govern auditing practices, such as the Generally Accepted Auditing Standards (GAAS) and the Sarbanes-Oxley Act (SOX). These regulations outline the responsibilities of auditors and the expectations regarding the public interest.
4. Internal Documents: Dive into internal communications, emails, and memos of Arthur Andersen's audit partners regarding these audits. These documents might provide insights into their thought process, discussions, and decision-making.
5. Interviews and Statements: Look for interviews or statements given by the audit partners involved, as well as any whistleblowers or individuals with firsthand knowledge of the audits. These perspectives may shed light on the motivations behind their decisions.
6. Ethical Considerations: Consider ethical principles and potential conflicts of interest that might have influenced the audit partners' decision-making. Factors like financial incentives, pressure from clients, and relationships with top executives should be taken into account.
By following these steps, you can review the available information and form an educated assessment regarding the prime motivations behind Arthur Andersen's audit partners' decisions on these audits. It is important to critically evaluate multiple sources to obtain a comprehensive understanding.