Monday, January 15, 2007

More facts about Arthur Anderson that I don't know

Company motto: Think straight and talk straight.
------- I have to give that they are straight talkers that think they can get away with it, may be too straight.

This is a firm that Mr. Anderson, is founder, refused for sign off an fraudulent audit report from a major (if not the biggest) account for "all the money in America."
------ Apparently, Enron and WorldCom have more money than those from America.

It had major crisis BEFORE of it's fall with Enron in relation with its consulting division, Accenture. They even set up a separate consulting firm Arthur Anderson Business Consulting (AABC) to compete with the now Accenture.
------ I had thought it was a friendly spin-off for cash.

In 2002, the conviction of "obstruction of justice" ended essentially all its business since the SEC "does not allow convicted felons to audit public companies."

In 2005, this conviction was overturned by the Supreme Court of the United States due to flaws in the jury instructions during its trial.

A total world wide work force of 85,000 employees has been reduced to 200 in Chicago to mainly deal with "pending law suits and orderly dissolution of the company."

The only current revenue generating business it runs is the Q-center in Illinois.


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