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The Enron Debacle
This page includes news between December 2001 and May 2002, the six month period spanning the beginnings of the Enron debacle and accounting firm Arthur Andersen's involvement. For today's headlines, visit SmartPros Newsline.

Andersen Clients Jump Ship*
... and others are profiting...

Company New Auditor
News Corporation Ltd. Ernst & Young
Fox Entertainment Ernst & Young
Remington Oil and Gas Company Ernst & Young
Waste Management Ernst & Young
Iomega Ernst & Young
FedEx Ernst & Young
Kerr-McGee Corp. Ernst & Young
Introgen Therapeutics Ernst & Young
Valero Energy Ernst & Young
Keystone Automotive Industries Ernst & Young
Kos Pharmaceuticals Ernst & Young
Polaris Industries Ernst & Young
Brunswick Ernst & Young
Corinthian Colleges Ernst & Young
BMC Software Ernst & Young
Centex Ernst & Young
United Security Bancshares Ernst & Young
Sysco Ernst & Young
Career Education Corp. Ernst & Young
1-800-Mutuals Advisor Ernst & Young
Lands' End Ernst & Young
Equifax Ernst & Young
Newell Rubbermaid Inc. Ernst & Young
BB&T Corp. PricewaterhouseCoopers
SunTrust Banks PricewaterhouseCoopers
Merck PricewaterhouseCoopers
Freddie Mac PricewaterhouseCoopers
Advance PCS PricewaterhouseCoopers
Rural/Metro Corp. PricewaterhouseCoopers
ABC Family World PricewaterhouseCoopers
Harris & Harris PricewaterhouseCoopers
Wyeth PricewaterhouseCoopers
IDEXX Laboratories Inc. PricewaterhouseCoopers
Sara Lee Corp. PricewaterhouseCoopers
Pennzoil-Quaker State Co. PricewaterhouseCoopers
EOTT Energy Partners PricewaterhouseCoopers
Action Performance Companies PricewaterhouseCoopers
Compass Bancshares PricewaterhouseCoopers
Sara Lee Corp. PricewaterhouseCoopers
The Hartford Deloitte & Touche
Hard Rock Hotel Deloitte & Touche
EOG Resourcese Deloitte & Touche
Hudson Respiratory Care Deloitte & Touche
InMedica Development Deloitte & Touche
Northeast Utilities Deloitte & Touche
Delta Air Lines Deloitte & Touche
ITT Industries Deloitte & Touche
Calpine Deloitte & Touche
MDU Resources Deloitte & Touche
Southern Company Deloitte & Touche
Xcel Deloitte & Touche
Weyerhaeuser KPMG
John Wiley & Sons KPMG
Estee Lauder KPMG
Halliburton KPMG
Household International KPMG
Merchant Bancshares KPMG
Riggs National KPMG
PSS World Medical KPMG
Callaway Golf KPMG
Cadence Design Systems KPMG
Occidental Petroleum KPMG
Documentum KPMG
FBR Asset Investment KPMG
Echelon Corp. KPMG
TriCo Bancshares KPMG

List is not comprehensive
Source: SmartPros Research

May 6-10

Andersen Accountants Buckled Under Pressure, Partner Testifies
Jury Selection Begins in Andersen Trial
KPMG Releases Statement to "Set the Record Straight"
Kmart to Review Former Execs
Andersen Goes to Trial (Again)

April 30 - May 3

Andersen Says Settlement Talks Are Dead
KPMG to Acquire Andersen's U.S., Foreign Consulting Business
Hill Continues Accounting Investigations
House Panel Says It Won't Turnover Duncan Documents to Andersen
Andersen Korea Drops KPMG for D&T
Ernst & Young Snags Andersen in Germany
Former Andersen Partners Want Judge to Block Planned Merger Deals

April 22-26

Andersen Admits to Hiring Restructuring Specialist
Volcker to Give Up on Andersen
E&Y Takeover Of Australia Andersen Still Far From Home
Andersen's Future Questionable
K&S May Sue KPMG Over Fraud
SEC Probe Adopts Tough Line

April 15-19

Conn. Attorney General Sues Andersen for Enron Role
Andersen Unravels as Efforts to Save Audit Firm Drag On
Reflections on the Audit Committee's Role
GAO Steps Up Independence Requirements
Andersen Willing to Pay $300 Million Settlement, But Problems Still Loom
Andersen U.K. to Begin Lay Offs; Fired Andersen Employees Sue
Committee Passes Auditor Bill
Andersen Offices to Merge with KPMG; Firm's End Predicted
Andersen H.K., China, PwC to Merge July 1
Xerox Case Could Hinder KPMG Partner
John Hancock Financial Services' Units Sue Enron, Andersen Officers, Directors
Andersen to Close Training Center
Some Celebs Who Avoided the IRS
Big Five Firms Court Andersen Employees, Clients
Qwest Finally Bars Andersen From Consulting Work
Andersen Discusses With Justice Department Over Criminal Charge
Andersen, KPMG Abandon Central Europe Merger
Computer Associates Probed for Boosting Results, Stock Incentives to Top Execs
Post-Enron Laws Could Alter 401(K) Investment

April 8-12

Andersen U.K. to Merge With Deloitte
Subjective Accounting Or Fraud?
New SEC Requirements Equal Big Expenses
Accounting Faces Crisis of Competence, Not Integrity
Oracle, Walgreen Bid Farewell to Arthur Andersen
Enron Auditor to Plead Guilty
More Tipsters Report Fraud to SEC
Regulator Examines Fannie Mae, Freddie Mac Disclosure Practices
AICPA Employs Modest Ads to Defend Profession's Integrity
Andersen to Lay Off 7,000
AICPA Chief to Donate Stake in CPA2Biz
IRS Web Site Debunks Frivolous Tax Arguments
Online Financial Advice on the Rise, Says Report
Tax Breaks for Pet Parents?
SEC Opens Formal Probe of Qwest
Recruits Defend Andersen; Students Back Their Commitments to Accounting Firm
Andersen U.K. to Merge With Deloitte
Andersen to Lay Off 7,000
SEC Opens Formal Probe of Qwest
Recruits Defend Andersen; Students Back Their Commitments to Accounting Firm

April 1-5

Andersen Accountants Were at Odds Over Enron
Andersen-KPMG Merger Talks End
Andersen Facing Arizona Charges
Qwest Goes Goodwill Hunting, Targets $40Bil Write-Off
Two Senior Andersen Partners to Lead Firm's Transition
Volcker Wants Indictment Dropped
Lawmakers Introduce 30 Bills to Address Problems Created by Enron, Andersen
FASB Takes a Cue from the Simplicity Movement
Andersen, Insurer Back Out of Settlement Deal with Arizona Group

March 25-29

Arthur Andersen to Adopt Volcker's Recommendations 
Global Crossing Executives Defend Capacity Swaps
Andersen Finds Way Out Of Mire
Andersen Partners Chart New Course
Andersen Uses PR Blitz to Fight Back at Enron
IASB: Andersen's Demise Will Create Fat Four
KPMG, Andersen Asian Affiliates Reach Deal
O'Neill: CEOs Accountable
Andersen Advisory Board Proposes Takeover of Accounting Firm's U.S. Ops
Waste Management Inc. Dumps Andersen
Foreign Audits Fail to Measure Up

March 18-22

Introducing SEC CENTRAL Columnist Charles Hecht 
Iomega Dumps Andersen for E&Y
Andersen Indictment Prompts BB&T Auditor Switch
Andersen, E&Y to Merge Russia Operations
SEC's Pitt Proposes New, Private-Sector Based Accounting Regulatory Board
Global Crossing Is 'No Enron', Talking to Potential Investors
Andersen's H.K., China Units to Join PwC
Andersen Pleads Not Guilty to Obstruction Charge, Gets May Trial Date
Andersen to Vanish in KPMG Merger
In U.K., Andersen May Be Splintering
Andersen Advised Global Crossing, Qwest On Swaps: Report
Financial Planners Garner High Scores in Honesty-Integrity Surve
Andersen Clients Jump Ship
KPMG and Andersen Talk Merger
Government Suspends Andersen from New Federal Business
Building Trades Tells Labor Ready 'Fire Andersen'
FAS Proposes Standard-Setting Changes
NY Tries to Hold CPAs Accountable

March 11-15

March 4-9
 

Feb. 25-March 1

Enron: Lessons for Accountants
It's not uncommon as an accounting professional to find yourself dealing with small and medium-sized business clients who are looking for ways to skirt the law. Jack Fox shares how to protect yourself.

Feb. 18-22
 

Feb. 11-15

AICPA Chairman Calls for Reform
KPMG's Butler Outlines 'Constructive Reforms'
Shareholders Sue Andersen
Plaintiffs Complain Andersen Unclear on Salvaged Enron Documents
Former SEC Chiefs Plead for Reforms
SEC to Propose New Corporate Disclosure Rules
Most Clients Rally Behind Andersen in Troubled Times
Global View: Enron And Capitalism
Lay Invokes Fifth and Other Enron Developments
Financial Officers Say Enron Damaged Credibility of Accounting Firms
Firms On the Spot Roll Out the Spots
Accounting Industry Puts Profit above Integrity, Critics Say
Florida Weighs Andersen Ban
E&Y Also Paid Consulting Fees by Failed Superior Bank
Accountants' Second Helpings
Florida Weighs Andersen Ban
E&Y Also Paid Consulting Fees by Failed Superior Bank
Accountants' Second Helpings

Enron Webcast Reveals Top Accounting Issues
Enron's collapse will be a topic of discussion within the accounting profession over the course of the year as investigations continue. This was the concensus of a panel discussion in a Webcast hosted by Financial Executives International. More
Feb. 4-8

Enron Execs Take the Fifth
Deloitte to Separate Consulting Arm
SEC Chief Lists What Needs Fixing
Andersen CEO Outlines Audit Reforms
Lawmakers Urged to Overhaul Auditing Rules
Volcker to Chair New Independent Oversight Board
AICPA Supports Auditor Independence
Accountants Won't Fight Consulting Ban
Enron Name Taking on a Whole New Meaning

Jan. 28-Feb. 1
 
 
Jan. 21-25
 
 
Jan. 14-18
 
 
Jan. 7-11
 
 
Dec. 2001
 

 
 
 
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