Question $10$

In the article by Chaney and Philipich, Shredded Reputation: The Cast of Audit Failure, what was their objective?

To investigate stock price reactions to Enron financial statements.

To investigate the impact of the Enron audit failure on Arthur Andersen's reputation.

To investigate the impact of the Worldcom audit failure on Arthur Andersen's reputation.

To investigate the combined impact of the Enron, Worldcom, and Waste Management audit failures on the reputation of both Arthur Andersen and the auditing profession as a whole.