I don’t quite understand exactly where the new AA is at in terms of operations. The article uses several verbs that are a bit confusing, such as they “…are setting up…” the firm, and there are five (only 5) offices in the US. Comments from Andersen Tax reinforce my confusion. That all makes sense when I consider the new firm is in start-up mode.
The short article says the firm asserts it is
…the rightful holder of the ‘ARTHUR ANDERSEN” and “ANDERSEN” historical trademarks, logos … at a global level…
There is also a firm called Andersen Tax, which was previously known as WTAS. This firm was founded by 23 former partners of Andersen. They avoid audit work, focusing instead on tax, with legal work also available in two of the European markets.
There is a fight underway between the two firms over the Andersen name. Both claim to have exclusive rights to the name.
She even quotes the last part of my previous post which said that if a small portion of the worldwide CFOs think the Andersen name denotes quality then there is huge market for the formerly named WTAS firm.
Previous post started a discussion that the tax-only accounting firm of Wealth & Tax Advisory Services, or WTAS, has acquired the right to use the name Andersen. The firm will change its name to Andersen Tax.
A tax-only accounting firm that was started by 22 or 23 partners from the imploded Arthur Andersen firm has acquired the name Andersen from the bankruptcy trustee. The firm of WTAS LLC, abbreviation for Wealth & Tax Advisory Services, will change their name to Andersen Tax.
The issue is getting a bit of attention in the accounting world this week.
A few links and comments of interest to auditors. The Andersen name is back, how to classify ‘trapped cash’, government assigning audits, and The F Student (twice). Wow, am I confused. The Andersen name resurfaces, and vinyl record sales are surging. What’s next, disco?
Previous post discussed a March 14, 2012 editorial in the Chicago Tribune which ponders what greater cause may have existed behind the 2002 collapse of Big 5 accounting firm Arthur Andersen. The editorial concluded that Andersen died in vain.
Methinks the editorial’s content argues against the editorial’s conclusion.
David Albrecht, in his post 10 Years Later – Did Andersen Die in Vain?, reaches a very different conclusion. More on that in part 3 of this series. If this post has already caught your interest, you’ll enjoy reading his post now.
Boston Chicken, Arizona Baptist Foundation, Sunbeam, Waste Management, Global Crossing, Enron, and WorldCom have one auditor in common.
Who was it?
Unfortunately, a chronicler of accounting history could pull together a list of disastrous audits for all the large firms. Perhaps the Grumpy Old Accountants, Professors Catanach and Ketz, could put that on their to-be-blogged-about list.