Arthur Andersen

Arthur Andersen LLP was one of the Big Five accounting firms and offered services in the fields of auditing, tax and business advisory. The headquarters was located in Chicago, Illinois. Because of the involvement in the Enron scandal, the company was no longer active as of 2002, the independent national companies went into the episode with various competitors together.

History

Foundation

Arthur Andersen was founded in 1913 by Arthur Andersen and Clarence DeLany as Andersen, DeLany & Co. Andersen was then a professor of Accounting at Northwestern University. The company changed the name in 1918 to Arthur Andersen & Co. Arthur Andersen's first client was the slot Beer Company of Milwaukee.

In Germany, the company opened its first office in 1960. 42 years later, in 2002, Arthur Andersen Germany had 3,800 employees in ten locations, most recently with its headquarters in Eschborn.

Enron scandal

As a result of involvement in the Enron scandal in 2002, the company introduced for the duration of the criminal proceedings voluntarily operating. Based on the instructions of company lawyer Nancy Temple and David Duncan ( head of Andersen 's offices in Houston ) documentation of Enron were destroyed, although the staff of Arthur Andersen, were aware of the inclusion of a SEC investigation into Enron. A jury in Houston, the company therefore the obstruction of justice was found guilty. This conviction would have led to a withdrawal of CPA licenses themselves. This judgment, however, was repealed on 1 June 2005 again by the U.S. Supreme Court in Washington, DC.

Resolution

The individual national companies separated shortly after the verdict of the global organization and Andersen merged with different companies belonging mostly to today's Big Four. In Germany merged the largest part of the company Ernst & Young.

The German area of ​​Financial & Commodity Risk ( FCRC ) went to the newly formed company d-fine GmbH and on the AABC ( Arthur Andersen Business Consulting) was sold to Deloitte Touche Tohmatsu Consulting. Worldwide the company merged the division AABC va with Hitachi Consulting and KPMG Consulting ( later BearingPoint ); in South Africa was a complete annexation to KPMG.

Connection to Accenture

Arthur Andersen and Andersen Consulting were independent companies under the joint holding company Andersen Worldwide Société Coopérative ( AWSC ). In 2000, Andersen Consulting achieved the desired separation of Andersen Worldwide and Arthur Andersen gained by arbitration of the International Chamber of Commerce ( International Chamber of Commerce). As a result of the separation Andersen Consulting was forced to stop using the name Andersen share what they did on 1 January 2001. The new company is called since Accenture.

Pictures of Arthur Andersen

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