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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. By 2001, it had become one of the world's largest multinational corporations and was one of the "Big Five" accounting firms (along with Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers).
Arthur E. Andersen also served as Treasurer of the Norwegian-American Historical Association (1936–1942) and was a director of the State Bank & Trust Co. (Evanston, Illinois). [5] At the time of his death, Arthur Andersen was one of the largest accounting firms in the world.
Accenture began as the business and technology consulting division of accounting firm Arthur Andersen in the early 1950s. [4] The division conducted a feasibility study for General Electric to install a computer at Appliance Park in Louisville, Kentucky, which led to GE's installation of a UNIVAC I computer and printer, believed to be the first commercial use of a computer in the United States.
Jamshed "Jim" Wadia (born 1947) was a CEO of Arthur Andersen in August 1997, a post from which he resigned on 7 August 2000 due to his inability to favorably steer the then impending spinning off of Andersen Consulting, now known as Accenture, one of the largest consulting firms in the world at the time.
Berardino joined Arthur Andersen in 1972, after graduating from the Fairfield University Dolan School of Business with a B.S. in accounting. [1] [2] [3] He was admitted to the partnership in 1982, rising to head of Andersen's U.S. audit practice.
Enron logo. The Enron scandal was an accounting scandal sparked by American energy company Enron Corporation filing for bankruptcy after news of widespread internal fraud became public in October 2001, which led to the dissolution of its accounting firm, Arthur Andersen, previously one of the five largest in the world.
David B. Duncan (born 1960) is a former partner of Arthur Andersen, and was the United States government's star witness in the Arthur Andersen trial.He has said fears over interpretation prompted him to order the shredding of documents relating to Enron.
The firm's current partnership was formed in 1989 by a merger of two accounting firms: Ernst & Whinney and Arthur Young & Co. [10] It was named Ernst & Young until a rebranding campaign officially changed its name to EY in 2013, [11] although this initialism was already used informally prior to its sanctioning adoption.