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As well as currently being the biggest personal bankruptcy reorganization in American history, the Enron scandal undoubtedly is the greatest audit failure.[sixty one] It involved a monetary scandal of Enron Company as well as their auditors Arthur Andersen, which was revealed in late 2001.

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Comprehensive Document of Transactions: It can be a whole and systematic document of property and liabilities because it shows the proper income or decline. Either side in the transactions are recorded.

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