And you thought we had heard the last of Arthur Andersen long ago, well no.....
Onésimo Alvarez-Moro
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Audit firm Arthur Andersen to be fined £75,000 on top the £100,00 it has to pay in costs for its audit of condom maker SSL
In what could be the last word on former global audit firm Arthur Andersen, the profession’s watchdog has fined it £75,000 and ordered it to pay £100,000 in costs for its work on the audit of condom maker SSL.
A tribunal of the Accountants Joint Disciplinary Scheme found that Andersen had not properly planned the audits of SSL, makers of Durex, in 1999 and 2000, failing to spot that sales had been booked into the wrong accounting period.
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