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Refer to Section 201 of SARBOX. Identify the services provided by Arthur Andersen that are no...

Refer to Section 201 of SARBOX. Identify the services provided by Arthur Andersen that are no longer allowed to be performed. Do you believe that Section 201 was needed? Why or why not?

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As Enron’s external auditing firm, Arthur Andersen also provided business consulting, internal auditing, and tax work services to Enron, all of which are now prohibited by Section 201 of the Sarbanes-Oxley Act. I believe implementing Section 201 was necessary; when an accounting firm is also receiving revenue for non audit-related work from a company it is auditing, an unfavorable, but honest, audit opinion will thus negatively affect the accounting firm’s revenues, which puts pressure on it to give a more favorable, but dishonest, audit opinion.

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