Scandal Sheet Keeps Track of Corporate Accounting Blunders
Forbes online has created a Corporate Scandal Sheet to help all of us keep track of major corporate accounting scandals. The scandal sheet, which Forbes promises to update often, includes a summary of each accounting scandal, organized alphabetically by company.
There are 22 companies on the list, so far, including Enron, Arthur Andersen, Adelphia, Tyco, WorldCom, and many more.
The list includes the month when the scandal went public, the allegations that have been publicized about each company, which agencies are investigating the allegations, a summary of the latest developments, and, where available, a comment from the company.
May 2002, it seems, has been the best month so far for corporate scandals, with seven entries on the list including several energy companies that suffered in the fallout of the Enron pandemonium. The most prominent investigating agency on the list is the Securities and Exchange Commission which is involved in 20 of the 22 investigations.
Where available, the list provides links to news stories about each company, information about company executives and directors, and links to stock information.
Bookmark this list to keep up to date on the most notorious accounting scandals.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.