[Marxism] Visitors Beware: Accenture's US-Visit Venture

Yoshie Furuhashi furuhashi.1 at osu.edu
Thu Jun 3 09:53:10 MDT 2004


>Louis Proyect wrote:
>
>>Actually, Yoshie is correct. Accenture was the consulting wing of 
>>Arthur Anderson.
>
>That has a rather long history. Anderson had created its consulting 
>section as merely a side-affair. But it grew until it was pulling in 
>more profits than the accountants, and for quite a few years there 
>were repeated stories in the business press about tension between 
>"consultants" (who were making the money) and accountants (who still 
>possessed the power) at Anderson. Finally the tension was resolved 
>by creating two firms. I don't remember the date, but it was quite a 
>few years before the Enron scandal.
>
>Carrol

* "In 1989, the auditing and consulting divisions were designated 
Arthur Andersen and Andersen Consulting, respectively, and became 
separate units of what amounted to a holding company, Andersen 
Worldwide.

Throughout the 1990s, a feud developed between the two halves of 
Andersen Worldwide. The feud eventually went before an International 
Chamber of Commerce arbitrator; in 2000, the arbitration proceedings 
finally resulted in a complete split between the divisions. Andersen 
Consulting had to pay holding company Andersen Worldwide $1 billion 
to sever its ties (less than the parent company claimed it should 
get). As of January 1, 2001, Andersen Consulting became Accenture." 
("Meet the Privateers - Brief Profiles," 
<http://www.afscme.org/wrkplace/snet09.htm>)

* "Accenture is the new name for Andersen Consulting, which broke 
away from Arthur Andersen in 2000, after a
longstanding feud. The change to Accenture was the fastest, most 
expensive re-branding effort in history as
everything was changed to fit the new logo in a matter of days. It is 
Arthur Andersen that is in so much legal
trouble for allowing Enron to cook their books and destroying Enron's 
documents as Enron collapsed. While
Accenture states that because it is no longer tied to Andersen it is 
not implicated in the Andersen/Enron
scandal, the Wall Street Journal reported that Accenture might have 
some legal exposure to the Enron scandal,
especially if Accenture had anything to do with consulting for 
Enron's 'special-purpose entities' which were
among the main players in Enron's collapse." ("Accenture [formerly 
Andersen Consulting] -- Corporate Profile," 
<http://www.polarisinstitute.org/corp_profiles/public_service_gats_pdfs/Accenture.pdf>)


Cf. <http://news.findlaw.com/legalnews/lit/enron/>.
-- 
Yoshie

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