Lecture explores business ethics after collapse of accounting firm

first_imgLarry Katzen discussed the collapse of the accounting company Arthur Andersen on Tuesday afternoon, as part of the annual Ethics Week hosted by the Mendoza College of Business. Katzen, who was a managing partner at the company when it was indicted for obstruction of justice in association with Enron, said the media played a large part in the company’s downfall.“Everything people learned about the Arthur Andersen and Enron case was what they read in the papers and saw on TV,” Katzen said. “It all said that Arthur Andersen did a terrible auditing job, and this was responsible for the demise of the company.” Emmet Farnan Larry Katzen speaks Tuesday afternoon. Katzen previously worked for Arthur Andersen, a company indicted for association with Enron.Katzen disputed this portrayal, arguing there was no evidence Arthur Andersen did anything wrong during the auditing process.As an accounting firm for Enron, Arthur Andersen had millions of documents subpoenaed after Enron was exposed for accounting fraud, Katzen said. However, he challenged the accusation that Arthur Andersen shredded important documents prior to the subpoena.“It’s a requirement that before you get an indictment, you must destroy all documents that are irrelevant to the auditors,” he said.Furthermore, Katzen said Enron’s fraud was mainly related to special purpose entities, which another accounting firm was responsible for auditing. Katzen said Arthur Anderson, throughout his 35 years at the company, maintained a high ethical standard.“The reason why I joined Arthur Andersen was their integrity,” he said. “These people walked away from clients that they felt were not operating under conservative accounting principles.”Katzen said the effects of the scandal were devastating. Within 90 days of the indictment, Arthur Andersen had lost its right to audit and was out of business.“Eighty-five thousand people lost their jobs because of Arthur Andersen’s association with Enron,” he said.Although Katzen said he was about to retire right before the scandal hit, he stayed on for longer in order to help other employees find new jobs.“I can proudly say that almost all 85,000 people have landed on their feet well and have done great things in their new organizations,” he said.Katzen said he learned from this experience “to do the right thing, no matter what the political ramifications might be.” In addition, Katzen said his decision to delay retirement helped him learn the sacrifice that is often necessary for the greater good of the company.“You will go through situations where you have to make tough decisions and must make personal sacrifices,” he said.Katzen also said his desire for new knowledge and strategies helped him to have a long and accomplished career. Up until his retirement, he regularly attended new training sessions and workshops, he said.“The only way you can stay ahead of this game throughout your entire career is to continually learn new things,” he said. “Don’t get soft and lean on your past. You have to always rise to the top.”Finally, Katzen said a company must have a culture that values integrity in order to be successful.“The common culture is the glue that holds an organization together,” Katzen said.Ethics Week at the Mendoza College of Business will continue tomorrow with the keynote address, to be delivered by Susan Ochs, a senior fellow and founder of the Better Banking Project. The lecture, titled “Managing Mindset: The Key to Better Corporate Behavior,” will take place in Giovanini Commons at 4:30 p.m.Tags: Arthur Andersen, Enron, Ethics week, Larry Katzen, mendoza college of businesslast_img read more

Treanor carries SU past No. 9 Cavaliers with 5-goal, 2-assist performance

first_img Published on February 23, 2015 at 11:09 pm Contact Chris: cjlibona@syr.edu | @ChrisLibonati Facebook Twitter Google+ A hard collision sent Kayla Treanor reeling to the ground just less than halfway through the second half. She screamed, writhing on the turf, her leg in hand.Some fans yelled “Horrible,” and “That’s hard, ref,” but the crowd mostly fell silent. A pin could have dropped and the sound would have filled the Carrier Dome air.Trainers, some field players and head coach Gary Gait jogged out to Treanor’s side. Despite Treanor limping off, time on the sideline and a Katie Webster pat on the back sent her back into the game after Virginia and Syracuse traded goals. Her infusion gave SU the legs it needed to get past the Cavaliers.With the teams knotted at 10, Treanor charged the net, and fell to the turf as she snuck a shot by UVA goalie Rachel Vander Kolk to give SU an 11-10 lead. The bench erupted, celebrating a lead that Syracuse wouldn’t give up.Treanor scored five goals and assisted on two others, carrying the No. 2 Orange (4-0) to a 14-13 win over the No. 9 Cavaliers (1-2) in the Carrier Dome on Monday night in front of 481 fans. She tallied six of her seven points in two spurts that totaled less than four minutes of game time and broke UVA’s momentum.AdvertisementThis is placeholder text“(Treanor) looks to draw and she looks to go and she looks to just pick you apart,” UVA head coach Julie Myers said, “and she plays a game of chess and she plays a game of chess really well.”But in the first 15 minutes, UVA stifled Treanor, forcing her to commit her only turnover and shoot just once. A little over 10 minutes into the game, Treanor came to the sideline with her hands on her knees, talking to Gait. During the stretch, the Cavaliers built a 4-1 lead.The game stopped with a media timeout and the SU head coach brought his whiteboard into the huddle. Instead of drawing up a play, he just rapped the whiteboard against his leg as he talked to the offense.“You just tell them to play the game,” Gait said. “We were doing a little bit of standing and watching and not really driving hard to the net and making things happen, but just kind of floating out there on the offensive end of the field.”Three minutes after the timeout, Treanor assisted on a Riley Donahue goal and scored two herself.On Treanor’s second goal, she faked the defender by exaggerating a cradle and cut under the defender. The fake gave her clear lane to the net and she buried the shot, giving SU a 5-4 lead.The goal, which sent SU’s sideline into a frenzy as players jumped around and gave the Orange its first lead of the opening half, prompted Myers to call a timeout. SU players ran to the timeout, in stark contrast to a walk to the sideline when the game was 4-1.“I think a few times we threw too many defenders at her,” Myers said about Treanor, “… We were convinced she was going (to the net) and we kind of threw the kitchen sink at her and… that ended up into feed options for her.”The second half mirrored the first, as it took until Treanor’s injury for her to get started again. Treanor scored all of three of SU’s goals in a 3-minute stretch.She cut underneath her defender on the second goal during the stretch to make the game 12-10. On the third, she and Halle Majorana used a version of the hidden-ball trick to give the hosts a 13-11 lead.“We mess around,” Treanor said of the hidden-ball trick, “so we just tried a different look.”Treanor nearly scored another goal during the stretch as she faked her defender, garnering a buzz from the crowd.A save pushed it wide, but the miss ended up being inconsequential as it was largely because of Treanor that Syracuse stayed undefeated.“Kayla Treanor’s a special player,” Myers said, “most teams don’t have a Kayla Treanor.” Commentslast_img read more