When Does a Client Become Too Big or Too Important?
The Enron collapse raises many questions about the relationship between a large corporate client and its professional advisors, including its auditors, lawyers and consultants. Andersen LLP has attracted most of the criticism and is the subject of both civil and criminal actions based upon alleged derogation of professional duties. Observers also have questioned the role of Enron’s outside counsel, especially with regard to its investigation of the nefarious partnerships commissioned by the Enron Board. Much of the criticism of Enron’s outside auditors and lawyers is based on the influence of the large fees they collected on their professional independence and objectivity
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