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The old Anderson Consulting. Forced to change their name soon after they were spun off from the parent, so adopted Accenture. Which turned out to be a good thin
by drumhead 5y ago
The old Anderson Consulting. Forced to change their name soon after they were spun off from the parent, so adopted Accenture. Which turned out to be a good thing because Arthur Anderson soon went bankrupt in the whole Enron debacle.
- alanm13 5y agoYes, I forgot to mention this in my comment as well. That’s the irony of it - they were arguably highly responsible for the turmoil that led to increased regulation via SOX, and now they make much of their revenue on SOX compliance.
- daniel-thompson 5y ago> they were arguably highly responsible for the turmoil that led to increased regulation via SOX, and now they make much of their revenue on SOX compliance. No. Andersen Consulting started as a division within Arthur Andersen in the 1950s, but became a separate BU in 1989 and in effect a separate company by the late 90s. The split came about because AC's business (technology & business consulting) made much more money than AA's business (auditing). The Enron debacle took down AA in late 2001 because AA was Enron's auditor. AC (actually Accenture by that point) wasn't involved.
- darwingr 5y agoIt worked too. Most folks don't mention or know about it. >Arthur Andersen was charged with and found guilty of obstruction of justice for shredding the thousands of documents and deleting e-mails and company files that tied the firm to its audit of Enron. https://en.wikipedia.org/wiki/Enron_scandal#Arthur_Andersen https://en.wikipedia.org/wiki/Enron_scandal#Arthur_Andersen
- morbicer 5y agoIt worked great for Andersen as well. Their conviction was overturned https://text.npr.org/4673930 https://text.npr.org/4673930