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Arthur Andersen LLP, based in Chicago, Illinois, was one of the Big Five accounting firms and performed auditing, tax services, and consulting until 2000. In 2002 the firm lost auditing license in the U.S. as a result of involvement in the Enron collapse. Andersen has sold its assets outside the U.S. to other firms such as Ernst & Young.Arthur Andersen and Andersen Consulting were both business units of Andersen Worldwide before their split in 2000. As a result of that split, Andersen Consulting was forced to change its name, which it did on Jan 1, 2001. The new company, free now of Arthur Andersen, named itself Accenture.
Accounts vary on why the split occurred--executives on the AA side cite greed and arrogance on the part of the AC partners, while executives on the AC side maintained breach of contract when AA created a second consulting group, AABC (Arthur Andersen Business Consulting) which began to compete directly with AC in the marketplace.
1 History
Arthur Andersen was founded in 1913 by Arthur Andersen and Clarence DeLany as Andersen, DeLany & Co . The firm changed its name to Arthur Andersen & Co.in 1918. Arthur Andersen's first client was the Schlitz beer company of Milwaukee.
2 Involvement in accounting scandals
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In the past Andersen has been alleged to have practiced fraudFraud is the crime or offense of deliberately deceiving another in order to damage them usually, to obtain property or services from him unjustly. Fraud can be committed through many methods, including mail, wire, phone, and the Internet. Forms of criminaulent accounting for SunbeamA sunbeam is: a ray of sunlight. the name of a school in Benaras. the name of a bread. It is less popular now in 2004, but it once was a very popular brand of white bread in the United States. a make of car manufactured by the Rootes group. a brand of toa, Waste Management , Asia Pulp and Paper , and the BaptistThe Baptist church is a movement within the Protestant branch of Christianity that emphasizes a believer's baptism by full immersion, which is performed after a profession of faith in Jesus Christ as Lord and Savior. A congregational governance system giv Foundation of ArizonaArizona was the 48th state admitted to the United States and is part of the Southwest United States. It is one of the Four Corners states, south and east of the Colorado River, bordering New Mexico, Utah, Nevada, California and Mexico. Its major cities ar, among others.
3 See also
4 External links
Financial services companies of the United States
Defunct companies
Corporate abuse
