Financial Daily from THE HINDU group of publications
Tuesday, Feb 12, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 12, 2002 |
|
|
|
|
|
Opinion
-
Letters Enron ethics
The article `Enron exposes several fault lines' (Business Line, February, 4) underscores the lack of proper corporate governance and highlights the importance of the key players concerned, particularly and specifically the auditors, whose many actions have not been above-board. The conspicuous nexus between the industrialist, auditor and the politician appeared to be at the forefront in the entire Enron episode. Arthur Andersen made a critical and calculated mistake in accepting very many remunerative roles, thus losing the independence that is vital to any audit exercise. Compounding the errors, it is alleged that the auditors, in an attempt to destroy evidence, shredded the audit work-sheets and documents. This is too big a crime to be pardoned and brushed aside. In fact, by destroying the evidence of audit notes and comments as well as observations, the auditor actually created evidence of their guilt and criminal act. In the whole scheme of things, corporate governance was at the lowest ebb. R. S. Raghavan
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|