What happened to Andersen Consulting?
On January 1, 2001, the global management and technology consulting organization will change its name to Accenture. The firm will cease operating under the name Andersen Consulting as of midnight on December 31, 2000.
Why did Andersen Consulting change to Accenture?
On 1 January 2001, Andersen Consulting adopted its current name, “Accenture”. The word “Accenture” is derived from “Accent on the future”. The name “Accenture” was submitted by Kim Petersen, a Danish employee from the company’s Oslo, Norway office, as a result of an internal competition.
What was Andersen Consulting?
Arthur Andersen LLP was an American holding company based in Chicago. Formerly one of the “Big Five” accounting firms (along with PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG), the company had provided auditing, tax and consulting services to large corporations.
Is Accenture related to Arthur Andersen?
Accenture is a management consulting and technology services company. From its establishment in 1989 until its incorporation in 2001, Accenture, then known as Andersen Consulting, was a separate legal entity from Arthur Andersen and operated independently from that company.
Did Arthur Andersen go to jail?
HOUSTON (CBS.MW) — The once mighty accounting firm Arthur Andersen LLP received the maximum sentence Wednesday for its handling of Enron Corp. documents. Judge Melinda Harmon sentenced Andersen to five years of probation plus $500,000 in fines.
Why did Accenture leave Arthur Andersen?
In August 2000 the accounting firm Arthur Andersen and its sister firm, Andersen Consulting, split after a rancorous battle over how much the consultants owed the accountants. Accenture, he emphasizes–in case you haven’t caught on–has nothing to do with Arthur Andersen.
What was Arthur Andersen’s role in Enron?
Andersen’s laboratory was Enron, an audit client since 1986. Andersen in the mid-1990s hired Enron’s entire team of 40 internal auditors, added its own people and opened an office in Enron’s Houston headquarters that was as big as some regional Arthur Andersen offices.