Ase Study of A Sad Tale Story

Read the Ethics case, A Sad Tale: The Demise of Arthur Anderson . ATTACHED.

Discuss the mistakes made by Arthur Anderson and/or other entities and potential actions that leadership in Arthur Anderson and/or other entities could have taken to prevent the failure of Arthur Anderson.
In addition to the information in the text (which is a bit over-summarized), be sure to research, using academically valid sources, what happened and why. Do not jump to conclusions or the obvious. There is far more to this story than what is found in the text. Top papers will do indepth analysis of the situation based on multiple academically valid sources; weak papers will not and may rely solely on what is in the text.
Do not be surprised if sources at the time of the incidents portray a different picture than those written with the benefit of time and hindsight. There was much emotion and anger in both government agencies and the general public at the time that may have colored the contemporaneous views. It is important to distinguish among:
(1) things, if any, the firm did that contributed to its downfall,
(2) things, if any, others did that contributed to its downfall,
(3) things, if any, that were done but did not contribute to its downfall.
Additionally, be carefull of matters that are or were industry standard practice. It is unlikely these are factors as not all firms were affected by the events in the case.
Something to keep in mind … at the time of the incident Arthur Andserson had over 1000 partners, of which only 3 were in charge of the Enron audit and 2-3 others participated in decisions affecting that audit. Of the former AA partners, most were recruited by other large CPA or consulting firms, and a number have served on the Public Company Accounting Oversight Board (suggesting a certain level of competence and ethical values).

Write a summary of your discussion, approximately 500 words, that is balanced, objective, and factual and that provides your analysis of what happened and why.