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Jan 2, 2012 · This chapter traces how and why this serial disaster unfolded, which illuminates the importance of the essential success factors in developing a great firm and the even greater importance of sustaining excellence.
“ That which does not kill me, makes me stronger. ” – philosopher Frederich Nietzche. Arthur Andersen was once the world’s largest and most respected accounting and consulting firm, the first firm people thought of when they heard the words “Big Eight,” “Big Six,” and then “Big Five.”
“Arthur Andersen’s death in January 1947 at age 61 was not unexpected after so many years of lingering illness, but it was traumatic nonetheless” [1, p. 81]. During his lifetime, Arthur Andersen reshaped public accounting into what it is today; a uniform, highly skilled profession.
ARTHUR ANDERSEN’S EARLY REPUTATION. The name of Arthur Andersen was once synonymous with honesty, integrity and uncompromising values in the auditing and accounting profession. The audit firm’s name stood tall even among the company of mammoth corporations for well over seven decades.
Oct 17, 2011 · Within a year, Arthur Andersen, its auditor, had disintegrated. Enron was turned into books, films, a play and a byword for fiduciary failings and fraud. But the real lessons went unheeded.
Mar 10, 2022 · Arthur Andersen performed a host of then-permissible—and more profitable—non-audit engagements for Enron, in addition to its assurance work, and by 2001, the firm’s total annual fees from all Enron engagements were US$52 million, divided almost equally between auditing work and consulting services. 12 Regarding Arthur Andersen’s actions ...
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What was Andersen's philosophy?
Service. The values driven by the idea of Service are quality, innovation, respect for the client and the wish to give him positive surprises. In the Andersen culture, satisfying the client was a dogma.
