Two examples of companies that have been guilty of ethics- based action related to financial management would be Arthur Anderson Case. Public, the outcry from these scandals, was understandable, given that between 1996 and 2002, investors lost an estimated $200 billion as a result of accounting and auditing irregularities (1). When the US administration announced its intention to act against Arthur Andersen in 2002 for the auditor's role (Arthur Anderson) With the allegation of corporate malfeasance in its auditing procedures, this famous reputation auditing firm was destroyed. The fraud involved inappropriate accounting and cover-up of Enron's financial statements in putting the business in a good light even if it was not doing so well. The Sarbanes and Oxley Act of 2002 was passed as a result of this scam (1).

Another company, the guilty company, was against the Pension Benefit Guaranty Corporation, a second federal contracting firm an executive has pleaded guilty to bribery conspiracy charges involving his business partner and a senior contracting official with the Pension Benefit Guaranty Corporation (PBGC) (2). In May 2020, Jeffrey Donahue, the PBGCs former director of procurement, and Nadeem Ansari, Girardis firm's CEO pleaded guilty to bribery offenses. According to the Department of Justice and court documents, Pension Benefit Guaranty Corporations former director of procurement colluded with a contractor to receive monetary benefits and other items of value. Mr. Donahue made an offer to the company in 2015 to win a PBGC contract worth approximately $55 million in exchange for the company's future work. The former director received cash and offers for employment in return for the help. Both the former director and the contractor took steps to conceal the scheme, including using separate, dedicated cellular telephones and e-mail accounts and communicating through encrypted software "(2)

In the Enron case, the CEO was found guilty. However, it affected the workers more than it affected him. Would you agree? What are your thoughts on this case and how it ended?