Andersen Surrenders Its Licenses to Audit
The day that employees of Andersen never could imagine has arrived. On Saturday August 31, 2002, Andersen LLP, the U.S. firm, surrendered its license to practice in the United States.
Read AccountingWEB's two-part report:
Good-Bye Andersen: Venerable Giant Will Audit No More: "As of this day, Arthur Andersen LLP has voluntarily relinquished, or consented to revocation of, its firm permits in all states where it was licensed to practice public accountancy with state regulators," said the former Big Five accounting firm in a statement on Saturday. Read the full story.
Andersen Surrenders Its Licenses - Its Legacy Lives On: As Andersen officially surrendered its state licenses as of August 31, 2002, observers tried to sort through the trends that led to the demise of the firm's audit practice and helped shape its legacy to the accounting profession. The legacy is not all bad. Read the full story.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.