What's the affect of such a split? Financially, Arthur Andersen has lost a division worth $10 billion, along with more than $200 million in profit-sharing fees each year.
But more than that, the word on the street is that the split forces Arthur Andersen to become more competitive, having been relegated to the least profitable Big 5 in terms of revenues.
One proposed path for the Big 5 firm is to increase its revenues with its finance consulting division for internal accounting matters. Most likely, nothing major will be done until a new CEO can be secured for the firm.