Beyond Arthur Andersen

Abstract

Recent corporate scandals, fraud, and misuse of resources involving top executives and multi‐billion dollar companies such as Sunbeam, Tyco, Medco, Enron, Worldcom, the NYSE and others – not to mention accounting giant, Arthur Andersen, threaten the viability and continued success of the US economy, the global economy, and world‐wide political stability. Stock markets, employees' pension funds, national employment rates, and the ability of citizens to trust in economic systems are all adversely affected. It is time, therefore, to begin to assess and recognize actual risks and costs of political and corporate breeches of ethics.