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Corporate Accounting / Enron / Arthur Andersen #652738

CBS Evening News for Saturday, Jan 12, 2002
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(Studio: Russ Mitchell) Representative Henry Waxman's request that Enron CEO Kenneth Lay explain two e-mails sent to employees last August before the company filed for bankruptcy reported.

(Washington: Sharyl Attkisson) The role of auditing firm Arthur Andersen in monitoring Enron finances examined; details given of the millions Enron paid Andersen for auditing and consulting. [Attorney for Enron employees Eli GOTTESDIENER - says Andersen was in a conflict of interest.] Companies whose auditors failed to file correct returns listed. [Former Securities and Exchange Commission chief accountant Lynn TURNER - says accounting companies saw the problem, but gave clean bills of health.]

(Studio: Russ Mitchell) Report introduced.

(New York: Randall Pinkston) Accounting practices at Enron examined; details given about Enron's failure to acknowledge certain investments and its hiding oflosses in these partnerships. [NYU school of business Paul BROWN - comments on "related party transactions" and full disclosure.] The role of Public Citizen in investigating whether Enron was controlling prices in California's energy crisis noted. [Public Citizen research director Tyson SLOCUM - talks about Enron's undisclosed subsidiaries.]

Reporter(s):
Attkisson, Sharyl;
Mitchell, Russ;
Pinkston, Randall
Duration:
00:04:30

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