Family and friends joke that Bridget Fonslow will not have the job she is scheduled to start next month. The UW-Madison alumnus recently took a position with Arthur Andersen, the accounting firm under fire for its involvement in the Enron scandal.
\When I speak with other Arthur Andersen people, they say there is nothing to worry about,"" Fonslow said.
The debacle surrounding Enron's bookkeeping irregularities and the role of its auditor Arthur Andersen, that has unfolded in the past few months has put the accounting profession in the spotlight. UW-Madison business faculty and students agree the situation is a perfect case study for ethics in their chosen field.
While allegations have raised awareness among students of problems in the field, it does not seem to have turned them away from the profession.
""I guess it has [influenced my perceptions] in terms of now I know that unethical behavior goes on, but it hasn't changed my career plans in any way,"" said Adam Byars, a UW-Madison senior majoring in finance.
One reason students said they felt secure was the technique of teaching ethics at UW-Madison. All business students here are required to take a course on the subject.
""The students have the same mindset as the faculty'that unethical behavior is not acceptable,"" said James Johannes, UW-Madison associate dean of the undergraduate school of business. ""Students are inquisitive, concerned, and want to know what is going on.""
The current situation will most likely serve as a learning experience for students more than anything else.
""No melodramatic changes have happened as a result of Enron specifically,"" Johannes said. ""It actually broadens the education by exposing students to issues that are normally not lectured on.""
Even classes not particularly focused on ethics deal with teaching students honesty, according to Larry Rittenberg, a UW-Madison accounting professor.
""Just as an example, on the first page of my auditing textbook we quote a Supreme Court justice that talks about fidelity to the public trust as being the paramount thing auditors have to do,"" Rittenberg said.
But no matter what the long-term effect of the Enron bankruptcy and accounting scandal is on curriculum, the impact on the accounting profession will likely be felt in public perception for years to come.
""I think that accountants in the past were viewed as very ethical, someone you can trust,"" Byars said. ""Now there is the threat of their being seen as people who can be corrupted.""
Students said the Enron scandal, which resulted from years of an alleged misrepresentation of the company's financial health, will not change how they approach classes other than using it as an example of what can go wrong.
""It will probably be used as a 'What not to do' in business ethics classes,"" said Stacy Kleist, a UW-Madison junior majoring in finance. ""It will be something that will be used for years and years and years if the allegations turn out to be true.""
She said Enron was not a major cause of concern in her classes.
""It's just kind of a joke ... something to make fun of,"" she said.
