Andersen was WorldCom auditor
WorldCom Inc., the nation's No. 2 long-distance phone company, stunned already reeling investors late Tuesday by disclosing what may be the largest case of accounting deception in U.S. history --...
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$3.8 billion scam at WorldCom
WorldCom Inc., the nation's No. 2 long-distance phone company, stunned already reeling investors late Tuesday by disclosing what may be the largest case of accounting deception in U.S. history--a $3.8...
Bailing out
As Chicago-based Andersen fights for its corporate life in a Houston courtroom, the accounting giant has been hemorrhaging clients at a breathtaking rate, reinforcing serious questions about what, if anything,...
Andersen jurors selected
As lawyers in the Andersen accounting firm's obstruction-of-justice trial selected a jury of nine men and seven women, Andersen struck a deal to settle a separate civil case involving its...
Andersen likely to target key witness
With the trial of Andersen drawing near, lawyers say defense counsel for the accounting firm likely will try to discredit the government's chief witness and argue that its shredding of...
Andersen dismisses 7,000 U.S. employees
Andersen on Monday began laying off 7,000 employees--more than one-quarter of its U.S. workforce--in the largest unraveling of the accounting giant's domestic operation related to the firm's role in the...
Andersen on offensive with strategy shift
As it struggles to survive the collapse of Enron Corp., Andersen has dramatically revised its strategy in recent days, switching from a cautious approach focused on making legal arguments to...
Volcker plans `New Andersen’
In an effort to save the troubled Andersen accounting firm, former Federal Reserve Chairman Paul Volcker on Friday offered to take the reins of the Chicago-based accounting giant and install...
Andersen charged in shredding
A federal grand jury has indicted the Andersen accounting firm, charging it with obstruction of justice, the first criminal charge brought in the scandal surrounding the collapse of energy trader...
Major rumbles likely if Andersen collapses
If Andersen is dragged into oblivion by the Enron scandal--an outcome some industry observers regard as inevitable--it likely will have far-reaching effects on Corporate America. Auditing fees will rise if...