Advertisement |
Of all the issues we have confronted recently, none compare to actions we are now forced to take with our employees
7,000 positions cut at Arthur Andersen Apr 08, 2002
This transaction is fully consistent with our commitment to move quickly on Andersen reforms initated by mr. Volcker
Andersen Worldwide gets acting CEO Apr 04, 2002
This was Mr. Berardino's decision on his own, it has nothing to do with the Volcker recommendation
Embattled Andersen CEO steps down Mar 26, 2002
The average investment on movies in the United States is $13 to 14 million while in India it is as low as $0.5 million
Feature: Indian govt. forays into films Mar 18, 2002
Given the weak evidence on the criminal intent of the small number of people involved, it is beyond comprehension for the Department of Justice to implicate the entire firm in criminal activity
Andersen: Indictment 'gross abuse' Mar 14, 2002
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.