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Arthur Andersen LLP was an American accounting firm based in Chicago that provided auditing, tax advising, consulting and other professional services to large corporations.
For more than a half century, Arthur Andersen—cofounded as Andersen, DeLany & Co. in 1913 by Arthur E. Andersen, a young accounting professor who had a reputation for acting with integrity—was primarily an auditing firm focused on providing high-quality standardized audits.
Aug 31, 2022 · Arthur Andersen’s Legacy, 20 Years After Its Demise, Is Complicated. The accounting firm, which went out of business in the aftermath of the Enron scandal, remains a joke for many. Others...
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The Enron scandal was a series of events that resulted in the bankruptcy of the U.S. energy, commodities, and services company Enron Corporation in 2001 and the dissolution of Arthur Andersen LLP, which had been one of the largest auditing and accounting companies in the world.
Andersen is a global tax firm that was founded in 2002 by 23 former Arthur Andersen partners. It acquired the rights to the Andersen name in 2014 and offers tax, valuation, financial advisory and consulting services.
Arthur Andersen was charged with and found guilty of obstruction of justice for shredding the thousands of documents and deleting e-mails and company files that tied the firm to its audit of Enron.
Jun 3, 2024 · In June 2002, Arthur Andersen LLP was found guilty of obstructing justice for shredding Enron’s financial documents.