Out of Control at Andersen

Internal memos detail how the firm's unusually lax controls allowed its Enron team to call the shots

Last Oct. 12, as Enron Corp.'s jerry-built financial structure was starting to topple, the Houston office of Arthur Andersen LLP was charging ahead with a clean-up mission -- and shredding documents was only part of the task. BusinessWeek has learned from internal Andersen documents that its Enron team was also busy amending four key memos to correct the record of its review of Enron's convoluted and conflicted partnership deals.

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