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How could the auditor, Arthur Andersen in this case, have performed Enron s audits and not caught the fraud? Is it possible for a financial

How could the auditor, Arthur Andersen in this case, have performed Enrons audits and not caught the fraud? Is it possible for a financial statement auditor to perform an audit in compliance with generally accepted auditing standards (GAAS) and not catch major financial statement fraud? How would GAAS auditing need to change to guarantee that all frauds are caught?

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