Auditor Says Enron Documents Gone

AP ^ | 01/10/2002

[Methos8]

I am an auditor working for one of the other "Big Five" firms. I have only been working for this firm for a few months, but I would like to say a few things on this topic.

An earlier poster nailed it.. it is standard procedure to destroy some documents related to an audit. Usually, the destroyed documents are support for more important workpapers. I think people should wait and see just what has been destroyed before passing judgment on this latest happening.

For example, we staff auditors keep what is called a "hold file" with various documents. We hold onto these files just in case the seniors/managers want to review our work. Once the audit is finished, these files are typically destroyed. Yet all of the important workpapers are still there.

If AA destroyed all of the workpapers in the last ten years related to these outside partnerships and off-balance-sheet financing arrangements (just a coincidence, Im sure).. then they're in serious trouble.

[Methos8]

You can't short Arthur Andersen because they are a limited liability partnership (LLP) and not a corporation.. they do not have any stock to short. Just to let you know..

[jtill]

and Armey was on the Banking and Finance committee voting to give Enron free reign in a number of areas while his wife sat on the Enron board....

Just heard some jerk on Hannity & Idiot say this very same thing. I wonder if it is part of the new DNC spin.

[cpdiii]

What are the limits of liability of a limited partnership and what are the required (if any) insurance on a firm like Arthur Andersen? Also, what is a firm like Arthur Andersen worth?

[FreeReign]

This is going to be very messy, for Republicans in particular. There are all kinds of skeletons here--which unfortunately will come to light. Even more so now that the "missing documents" piece has been added. Since "ooops, missing docs" has been going on since the first document was composed, one would think they would have learned something. Very simply, while Enron contributed to both parties, they were in bed with all the Repub big guns--W flew on the Enron plane multiple times, Cheney had those folks in on numerous occasions while formulating "energy policy", and Armey was on the Banking and Finance committee voting to give Enron free reign in a number of areas while his wife sat on the Enron board....going to be messy, very messy. And you would've hope that they would've been honest and not gotten involved with Clintonian games of missing docs...

Ya know I wasn't a huge Bush supporter going back about a year ago, but the more BS accusations -- like yours -- I read about the guy over the past year the more I like him. God forbid if we must hold our president's feet to the fire, that we must wade through posts like this.

BTW, that's free rein -- you meant to say.

[Sueann]

"documents gone"

Now I'm convinced Clintons' fingerprints are all over this case. It also explains why the dems have been so eager to get this investigated - in order to cover up their part in the whole mess. Let's hope the real truth is revealed.

[pepsionice]

LOL....lets appoint a special counsel. Hmmmmm, is Mr. Starr doing anything currently? I think we could make this a 7 year job for some unemployed lawyer. Cushy job, with benifits. And in the end, just wipe the slate clean and say there was never enough evidence.

[Free Vulcan]

Nothing would thrill me more than to see AA and all it's smarmy condescending yuppie employees go down for Enron. I'll gladly help pour gasoline on that fire.

[anymouse]

Exactly! Arthur Anderson executives need to go to jail over this.

Can't find the records of a client suspected of massive fraud and embezzelment - go straight to jail, do not pass go, do not collect $200M in accounting fees.

Arthur Anderson, and independent accounting firm, is hired to KEEP, analyze a company's books for evidence of FRAUD and EMBEZZELMENT, and to REPORT such IMMEDIATELY if it finds such. Arthur Anderson is either incompentent (thus should be drummed out of business) or is just as crooked as the Enron management that DEFRAUDED and EMBEZZELED their investors and employees out of BILLIONS.

Frankly I'm thinking that the IRS criminal devision should be going after the Arthur Anderson and Enron executives and use RICO statues to seize the amount of taxes due on the amount of money they can't account for. If it were you or me that couldn't explain our personal financial windfall of a mere fraction of this amount, you bet we would get a IRS enema audit ASAP.

If we can seize Al Queda assets, why not Enron and Arthur Anderson executives' accounts, at least until they come up with the missing financial audit records?

[anymouse]

winallcosts - member since December 27th, 2001

A loser not worth a cent. :)

[pray4liberty]

Frankly I'm thinking that the IRS criminal devision should be going after the Arthur Anderson and Enron executives and use RICO statutes to seize the amount of taxes due on the amount of money they can't account for. If it were you or me that couldn't explain our personal financial windfall of a mere fraction of this amount, you bet we would get a IRS enema audit ASAP.

Absolutely. They deserve an IRS reaming, and, hopefully, the audit trail leads to the Clintons, too. I'll bet the conveniently destroyed documents had their names on them.

[angkor]

Enron’s Campaign Contributions, 1989-2001- Senate & House