Why Auditing is Important – Financial Fraud from the Past

Enron Scandal (2001)

An accounting scandal that brought down the energy company and also its financial auditor, Arthur Andersen. In the four years prior to its collapse, the fake revenue helped the company to inflate its market capitalisation from $13 billion in 1996 to $101 billion in 2000, an expansion of 65% per year.

https://en.wikipedia.org/wiki/Enron_scandal

WorldCom Scandal (2002)

https://en.wikipedia.org/wiki/WorldCom_scandal

Lehman Brothers Scandal (2008)

https://en.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers

Bernie Madoff Scandal (2008)

https://en.wikipedia.org/wiki/Madoff_investment_scandal

Carrian Group (佳寧集團) Scandal (1977-1983)

https://zh.wikipedia.org/zh-hk/%E4%BD%B3%E5%AF%A7%E6%A1%88

https://www.icac.org.hk/icac/landmarkcase/carrian/chi/p2.html