Why you need a document retention plan
Just when you thought you'd be hearing no more about Arthur Andersen LLP, the U.S. Supreme Court overturned the accounting firm's conviction in May. In 2002, Arthur Andersen had been convicted for obstruction of justice after shredding documents related to Enron and its finances--suspiciously close to a government inquiry. That conviction led to the collapse of the accounting firm.
The Supreme Court ruled that the federal judge in Houston gave overly broad instructions to the jury on determining guilt, and ruled prosecutors should have had to prove that the firm actually intended to break the law.
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