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Volcker: Andersen in want of 'miracles'

WASHINGTON, April 23 (UPI) -- Paul A. Volcker, who was to help steer Arthur Andersen LLP out of its woes, said the accounting firm could use some "miracles," according to Tuesday's Washingto

Faceoff: ANWR drilling goes down the hole

WASHINGTON, April 19 (UPI) -- On Thursday, supporters of oil exploration in the Arctic National Wildlife Refuge failed to muster sufficient votes in the U.S. Senate to move the issue forward
PETER ROFF and JAMES CHAPIN, UPI National Political Analysts

Andersen breaks off talks with Justice

HOUSTON, April 18 (UPI) -- Talks between Arthur Andersen LLC and the Justice Department reportedly broke off Thursday, bringing an apparent end to efforts to resolve criminal charges agai

Andersen breaks off talks with Justice

HOUSTON, April 18 (UPI) -- Talks between Arthur Andersen LLC and the Justice Department reportedly broke off Thursday, bringing an apparent end to efforts to resolve criminal charges agai

Fired Andersen employees sue

CHICAGO, April 17 (UPI) -- Fired employees of embattled auditing firm Arthur Andersen Wednesday filed a class action suit charging their layoffs violated the federal Worker Adjustment and

Fired Andersen employees sue

CHICAGO, April 17 (UPI) -- Fired employees of embattled auditing firm Arthur Andersen Wednesday filed a class action suit charging their layoffs violated the federal Worker Adjustment and

Chicago to help former Andersen workers

CHICAGO, April 11 (UPI) -- Mayor Richard M. Daley Thursday sent a letter to senior executives of 250 Chicago area businesses urging companies to consider hiring former employees of Arthur
AL SWANSON

Enron auditor makes guilty plea

HOUSTON, April 9 (UPI) -- The former Arthur Andersen auditor who oversaw Enron Corp's financial records guilty Tuesday to a single charge of obstruction of justice and agreed to cooperate with the government's investigation of Enron's collapse.

Duncan enters guilty plea

HOUSTON, April 9 (UPI) -- A former Arthur Andersen executive who supervised the Enron audit pleaded guilty Tuesday to a single charge of obstruction of justice. David Duncan is expected

Duncan faces obstruction charge

HOUSTON, April 9 (UPI) --

The Bear's Lair: Contract Imperialism

WASHINGTON, April 8 (UPI) -- Last week, the U.S. Treasury Department dismissed a proposal made by the International Monetary Fund's Anne Krueger that countries should be able to be declared bankrupt. This bickering emphasized yet again the current helplessness of the West in the fac
MARTIN HUTCHINSON, UPI Business and Economics Editor

Banks, law firms added to Enron lawsuits

HOUSTON, April 8 (UPI) -- Expanded lawsuits were filed Monday in the collapse of the energy giant Enron Corp., accusing nine banks, two law firms and more individuals in an alleged schem

7,000 positions cut at Arthur Andersen

CHICAGO, April 8 (UPI) -- Beleaguered accounting giant Arthur Andersen LLP Monday began cutting about 7,000 positions, about a quarter of its U.S. work force, mostly in its audit and adm
AL SWANSON
Page 12 of 19
Photos
Arthur Andersen
WAP2002070807 - WASHINGTON, July 8 (UPI) -- (L to R) Melvin Dick, former Senior Global Managing Partner of Arthur Andersen, Bernard Ebbers, former C.E.O of WorldCom, Scott Sullivan, former Chief Financial Officer of WorldCom, and Jack Grubman, Telecommunications Analyst of Salomon Smith Barney are sworn in before the House Committee on Financial Services on July 8, 2002, in Washington. Congress is investigating wrong doing by the telecommunications giant for misleading the public to boost stock prices..mk/Michael Kleinfeld UPI
Wiki

Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accountants in the United States after being found guilty of criminal charges relating to the firm's handling of the auditing of Enron, the energy corporation, resulting in the loss of 85,000 jobs. Although the verdict was subsequently overturned by the Supreme Court of the United States, it has not returned as a viable business.

One of the few revenue-generating assets that the Andersen firm still has is The Q Center, a conference and training facility outside of Chicago. The former consultancy arm of the firm, now known as Accenture, which had split from the accountancy side in 1987 and renamed themselves after splitting from Andersen Worldwide in 2000, continues to operate.

Andersen was orphaned at the age of 16 at which point he began working as a mailboy by day and attended school at night, eventually being hired as the assistant to the controller of Allis-Chalmers in Chicago. At 23 he became the youngest CPA in Illinois.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Arthur Andersen."
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