The federal prosecution of Arthur Andersen in 2002 led to the demise of the firm, the loss of many thousands of jobs, and a significant reduction in the number of American accounting firms that can meet the needs of very large corporations.[1] Subsequently, federal prosecutors have increasingly used against corporations and other business organizations the technique of deferred prosecution as a means to avoid the kind of collateral damage that destroyed Arthur Andersen.[2] This monograph explores the nature and history of deferred prosecution and assesses its current role among the techniques for enforcing the criminal law against corporations and other business organizations.

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