Arthur+Andersen

Arthur Andersen was orphaned at the age of 16 at which point he began working as a mailboy by day and attended school at night, eventually being hired as the assistant to the controller of a Allis-Chambers in Chicago. At 23 he became the youngest CPA in Illinois.
 * Basic Information: **

The firm of Arthur Andersen was founded in 1913 by Arthur Andersen and Clarence DeLany. It was originally called Andersen, DeLany & Co. The firm changed its name to Arthur Andersen & Co. in 1918. Arthur Andersen's first client was the Joseph Schlitz Brewing Company of Milwaukee. In 1917, after attending courses at night while working full time, he graduated from Northwestern University with a bachelor's degree in business. In 1927, he was elected to the Board of Trustees of Northwestern University and served as its president from 1930 to 1932. Aurther Anderson LLP, is baesed in Chicago and is one "Big Five" accounting firms.
 * Backround Information: **

Arthur Andersen was an auditor for Enron
 * Posistion at Enron: **

Enron's auditoor firm, Arthur Andersen, was accused of applying reckless standards in their audits because of a conflict of interest over the significant consulting fees generated by Enron. In 2000, Arthur Andersen earned $25 million in audit fees and $27 million in consulting fees.
 * Role in the Scandal: **

Many executives at Enron were indicted for a variety of charges and were later sentenced to prison. Enron's auditor, Arthur Andersen, was found guilty in a United States District Court, but by the time The ruling was overturned at the U.S. Supreme Court, the firm had lost the majority of its customers and had shut down. Employees and shareholders received limited returns in lawsuits, despite losing billions in pensions and stock prices.
 * What happened to him after the scanal? **

Arthur Andersen died in 1974. He died They filed for bankruptcy and the company is no more.  [] []
 * Where Is Andersen today? **