Andersen: The Enron Story So Far

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So many stories have been reported on this issue that it's often difficult to keep developments in perspective. AccountingWEB offers this guide to developments within Andersen itself, and its struggle to survive the crisis.

List of Client Defections

The Andersen Worldwide Network: Who's Going Where?

September 2002

9/13/02 Judge Refuses Andersen's Request for New Trial
9/3/02 Andersen Surrenders Its Licenses to Audit
9/3/02 Good-Bye Andersen: Venerable Giant Will Audit No More
9/3/02 Andersen Surrenders Its Licenses - Its Legacy Lives On

August 2002

8/29/02 Andersen Worldwide Faces $350 Million RICO Action
8/28/02 Andersen Worldwide To Pay $60 Million in First Enron Settlement
8/19/02 Andersen Loses License to Practice in Texas
8/14/02 Andersen Won't Dissolve When Audit Practice Ends
8/1/02 DOJ Files Request to Block Andersen's Retrial

July 2002

7/12/02 Connecticut Closer to Pulling Andersen's License to Practice

June 2002

6/27/02 Andersen Staffers to Find New Home at KPMG Consulting
6/26/02 Andersen Asks Judge Harmon For Acquittal or Retrial
6/20/02 AICPA Will Monitor Remaining Andersen Audits
6/17/02 Andersen to Cease Auditing Publicly-Held Companies
6/17/02 Andersen To Appeal Unusual and Provocative Jury Verdict
6/15/02 Andersen Found Guilty
6/13/02 Jury is Deadlocked in Andersen Trial
6/10/02 Andersen Pays Off Baptist Foundation Fine
6/10/02 Andersen Jury Continues to Deliberate
6/09/02 Andersen Client Defections For The Week of June 3, 2002
6/06/02 Andersen Trial Closes With Yet More Twists and Turns
6/04/02 Andersen Testimony Raises Doubts, DOJ Plans Rebuttal

May 2002

5/31/02 Andersen Defense Wraps Up Testimony in Houston
5/28/02 Texas Moves to Revoke Andersen License
5/28/02 Andersen Defense Takes Center Stage>
5/25/02 Andersen Clients Continue to Bail This Week
5/24/02 Andersen Endures More Shake-Ups and Another Week in Court
5/23/02 Andersen Spin-Off Opens Doors to Fortune 500 Clients
5/22/02 More Disciplinary Action for Andersen
5/21/02 Andersen Jury Watches Video
5/20/02 Fireworks at Andersen Trial End in Judge Storming Off Bench
5/18/02 Snowball Grows: 90 Public Companies Leave Andersen This Week
5/17/02 Duncan Provides Controversial Testimony
5/15/02 Prosecution Admonishes Attorney Hardin's Tactics
5/15/02 Testimony Continues for Andersen's Duncan
5/14/02 Duncan Takes the Stand; Judge Makes Potentially Reversible Decision
5/13/02 Duncan Notes Sealed, Andersen Lawyer Takes the Fifth
5/13/02 Deloitte Grabs Andersen Tax Practice, Other Offices Sold as Well
5/10/02 More Andersen Partners Testify for the Prosecution
5/10/02 Welcome to the Hotel Kenneth Laya
5/09/02 Andersen Lawyers Request Access to Duncan Notes
5/08/02 Opening Arguments and First Testimony in Andersen Trial
5/07/02 Jury is Selected for Andersen's Trial; Midwest Offices Sold
5/07/02 Andersen Reaches Settlement in Baptist Foundation Lawsuit
5/06/02 Andersen Trial Scheduled to Begin Today
5/06/02 Volcker Ends His Role as Andersen Savior
5/01/02 Raiders From Rival Firms Roil Andersen's Retired Partners
5/01/02 Andersen's Baptist Foundation Trial Begins

April 2002

4/29/02 Andersen Settlement and Delay Request Denied
4/26/02 PwC Dives Into Andersen Bidding Pool
4/25/02 Andersen Proposes New Settlement to Justice Department
4/25/02 Robert Half to Acquire Andersen Risk Consulting Group
4/22/02 Paul Volcker Likely to Step Aside at Andersen
4/19/02 Andersen Will Not Plead Guilty - Firm Heads for Trial
4/18/02 Big Five Merger Will Create Canada's Largest Accountancy
4/17/02 Andersen U.S. Audit Practice May Splinter Into Pieces
4/16/02 Interest in Andersen's Tax Department Heats Up
4/11/02 Andersen UK to Merge With Deloitte Touche Tohmatsu
4/10/02 Andersen Mulls Ground-Breaking LBO of Tax Practice
4/10/02 Andersen's Duncan Pleads Guilty
4/10/02 Enron Shareholders Target Banks, Lawyers
4/09/02 Andersen to Lay Off 7,000 Employees
4/08/02 Insurance Companies Try to Stop Andersen Actions
4/05/02 Aldo Cardoso Takes the Reins as Andersen CEO
4/05/02 Deloitte to Absorb a 'Significant Number' of Andersen Tax Professionals
4/05/02 KPMG Signs an Agreement to Acquire More Than 400 Andersen US Partners and Staff
4/04/02 DOJ Hints at Scenario in Which it Would Drop The Indictment Against Andersen
4/04/02 Andersen Worldwide Appoints French Operations Chief as Interim CEO
4/04/02 Investment Banking Firm Hired as Adviser
4/04/02 More Modest Enron Settlement Amount Agreed To
4/04/02 Payment Hinges on Insurance Company's Solvency
4/04/02 Andersen Partners to Meet Via Videoconference Today
4/04/02 Andersen's Bass Warned of Problems with Enron in 1999
4/03/02 Andersen Worldwide Network Continues to Disintegrate
4/02/02 Andersen Names Transition Team
4/01/02 Andersen Raises the Stakes with Audit Reforms
4/01/02 Andersen Reneges on Baptist Church Settlement

March 2002

3/28/02 Andersen May Announce Up to 6,000 Job Cuts in the US
3/28/02 Andersen's Global Network Merger Plans Unravel
3/27/02 Joseph Berardino Resigns as Andersen's CEO
3/25/02 Volcker's Plan May Reopen DOJ-Andersen Talks "
3/22/02 E&Y and PwC Join KPMG in Picking Up Andersen Pieces
3/21/02 Andersen Fights Back, Pleads Not Guilty
3/20/02 Andersen and KPMG Close to a Merger Deal Outside US
3/18/02 Andersen Suspended From New Government Contract Work
3/15/02 Andersen Indicted on Criminal Charges
3/14/02 Andersen Merger Talks Fizzle; Firm Refuses Guilty Plea
3/13/02 Andersen to Face Criminal Charges
3/13/02 Andersen Negotiating Merger; Volcker Announces Changes
3/11/02 Next For Andersen: Indictment? Merger? Chapter 11?
3/05/02 Andersen Suffers Additional Losses: Baptist Foundation, Merck
3/01/02 Andersen's Oversight Board Sets Reform Agenda
3/01/02 Andersen Puts a New Offer on the Table

February 2002

2/28/02 Andersen Gets Nod for Government Work
2/27/02 Andersen May Spin Off Audit Practice
2/21/02 Andersen Offers $800 Million Enron Settlement
2/14/02 Andersen Loses Biggest Banking Client, SunTrust
2/12/02 Florida to Consider Sanctions Against Andersen
2/11/02 State of Illinois to Investigate Andersen
2/08/02 Andersen to Address Faculty and Career Center Staff Concerns
2/07/02 Andersen Records Subpoenaed
2/06/02 Andersen CEO Outlines Vision for a New Era of Accounting
2/04/02 Andersen Hires Paul Volcker to Reform, Restore Trust
2/01/02 White House Cautions Agencies About Hiring Andersen

January 2002

1/31/02 Embattled Andersen Targeted on Several Fronts
1/29/02 Andersen Named in Class Action Suit
1/21/02 Andersen Puts the Enron Matter in Perspective
1/21/02 States May Revoke Andersen's License to Practice
1/16/02 Andersen Dismisses Lead Auditor on Enron Job
1/14/02 Lieberman on Andersen: 'Enron Episode May End This Company's History'
1/11/02 Andersen Admits Destroying Enron Documents
1/03/02 Andersen Get 'Thumbs-Up' on Peer Review

December 2001

12/26/01 UC Hopes to Lead Class Action Suit Against Andersen, Enron
12/19/01 SEC's Pitt to Auditors: 'You Will Pay'
12/13/01 Andersen CEO Takes Aim at Enron
12/11/01 Enron, Andersen Testify Before Congress
12/10/01 POB to Oversee Deloitte Peer Review of Andersen
12/05/01 Enron: Andersen Hits Back after $1B Lawsuit Threat
12/03/01 PwC Sacks 1,100 at Enron as SEC Targets Andersen
12/03/01 Andersen Agrees to Expanded Peer Review

November 2001

11/21/01 Andersen Enron Fiasco Prompts Look at Peer Reviews
11/13/01 Andersen Faces SEC Sanctions over Enron Reporting

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