The Sinking of a Giant - Andersen Goes Under | AccountingWEB

The Sinking of a Giant - Andersen Goes Under

2002 Year-in Review

In January 2002, Senator Joseph Lieberman appeared on CBS' Face The Nation talking about the revelations that Arthur Andersen destroyed documents in the Enron investigation. Lieberman prophetically declared that, "this Enron episode may end this company's history." Even the brilliance of hiring Paul Volcker to reform the firm didn't help Andersen. Within two months Andersen was indicted on criminal charges. Three months later the firm was found guilty, and two months after that formally surrendered it's license to practice auditing. As clients, partners and staff bailed out throughout the year, the 89-year-old giant of the accounting profession was painfully put to rest.

Related Articles

01/11/02 Andersen Admits Destroying Enron Documents

01/21/02 States May Revoke Andersen's License to Practice

01/29/02 Andersen Named in Class Action Suit

02/04/02 Andersen Hires Paul Volcker to Reform, Restore Trust

03/15/02 Andersen Indicted on Criminal Charges

03/28/02 Andersen's Global Network Merger Plans Unravel

06/17/02 Andersen Found Guilty

06/17/02 Andersen to Cease Auditing Publicly-Held Companies

09/03/02 Good-Bye Andersen: Venerable Giant Will Audit No More

09/13/02 Judge Refuses Andersen's Request for New Trial

A complete digest of all Anderson/Enron related stories is available.

A list of Andersen client defections is also available.

Continue "2002: The Year in Review."

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