An Accounting Issue for Credit Unions

Enron, WorldCom, Xerox, Arthur Andersen—the disclosures of accounting restatements are now a regular news feature. But the damage isn’t just the revisions in sales or profit, employee layoffs, or even corporate failure. More critical is the loss of reputation in the minds of both investors and the public. Indeed whole industries —telecommunications, accounting and energy — are now under suspicion because of the actions of some of their firms.

 
 
 

 

 

July 1, 2002


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