Arthur Andersen, based in Chicago, Illinois, used to be one of the Big Five accounting firms and performed auditing, tax services, and consulting until 2000.
Arthur Andersen spun off its consulting division Andersen Consulting and named the new firm Accenture on Jan 1, 2001. In 2002 the firm lost auditing license in the U.S as a result of involvement in the Enron collapse. Andersen has sold its assets outside the U.S. to other firms such as Ernst & Young.
Involvement in accounting scandals