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Is Arthur Andersen still in business?

Published in Business History 1 min read

No, Arthur Andersen is no longer in business as a functioning accounting firm.

The Demise of Arthur Andersen

Arthur Andersen, once one of the "Big Five" accounting firms, ceased operations due to its involvement in the Enron scandal. Following a conviction that significantly impacted its ability to operate, the firm effectively went out of business.

Historical Context and Operational Impact

The U.S. Securities and Exchange Commission (SEC) does not accept audits from entities associated with convicted felons. As a direct consequence of this regulatory stance and its legal challenges, Arthur Andersen agreed to surrender its CPA licenses and its right to practice before the SEC. This critical agreement was finalized on August 31, 2002, which marked the effective end of the firm's operations. This surrender of its fundamental professional licenses and regulatory approval rendered it impossible for Arthur Andersen to continue its core business as an auditing and accounting firm.

For more information, you can refer to the history of Arthur Andersen on Wikipedia.