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Shred Away?

Why you need a document retention plan

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This story appears in the November 2005 issue of Entrepreneur. Subscribe »

Just when you thought you'd be hearing no more about Arthur Andersen LLP, the overturned the accounting firm's conviction in May. In 2002, Arthur Andersen had been convicted for obstruction of after shredding documents related to and its finances--suspiciously close to a 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 on determining guilt, and ruled prosecutors should have had to prove that the firm actually intended to break the law.

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