The US Department of Justice handed down a one-count indictment to Andersen, the beleagured accounting firm, for obstruction of justice.
The move, which Andersen's lawyers earlier said would be a "corporate death penalty", potentially opens a long fight with the US government. more...
US SEC to issue guidance on Andersen
The US Securities and Exchange Commission is expected to release a 70-page document detailing how clients of Andersen, the accounting firm, should handle their regulatory filing requirements following the indictment against Andersen. March 17 2002
Reform plan put forward by accounting standard regulator
US accounting standard-setters reacted to criticism prompted by Enron's collapse by proposing to streamline the standard-setting process. The Financial Accounting Foundation, which runs the Financial Accounting Standards Board, announced proposals that it said would make FASB more flexible and efficient. March 14 2002
Investigators add to growing pressure on Andersen
Pressure on Andersen continued to build as uncertainty clouding talks with the Department of Justice added to worries over defecting audit clients. March 10 2002
Editorial Comment: Feeling the heat
In early 2000, as they rode the wave of what would become the longest economic expansion in US history, America's chief executives could do little wrong. They were lauded by the media, highly rewarded by shareholders and largely left alone by regulators and lawmakers. March 7 2002
Accounting standards body criticised for secrecy
A former head of the International Accounting Standards Committee has criticised a decision by the foundation to keep its list of corporate donors secret until publication of its annual report this month. March 3 2002
SSL probe puts Andersen back in spotlight
Andersen, the "Big Five" accounting firm under fire over the Enron collapse, is to be investigated over its role as auditor to SSL International, the healthcare group that is the subject of a Serious Fraud Office inquiry. February 19 2002
Accounting board feels Enron effect
The controversy over the funding of the International Accounting Standards Board is the last thing the audit profession needs at a time of crisis. February 14 2002
Volcker presses for tighter accounting regulation
Paul Volcker, the former Federal Reserve chairman and head of the group that governs the International Accounting Standards Board, urged Congress to toughen accounting industry supervision and increase funding to regulators. February 14 2002
Messy work for Volcker, the clean-up man
Paul Volcker, 74, has spent a lifetime cleaning up multi-billion dollar debacles (trying to, at least) and preventing future ones. And he is still at it. February 14 2002
SEC proposes stricter reporting rules
The US Securities and Exchange Commission is close to announcing new rules governing how companies report off-balance-sheet partnerships, accounting vehicles that have come under intense criticism since the collapse of Enron. February 13 2002
Volcker urges global body for accounts
Paul Volcker, the former chairman of the US Federal Reserve, has an unusual double perspective on the fall of Enron. Mr Volcker, a leading figure in the drive for global accounting rules, is also reviewing the business practices of Andersen, Enron's much criticised auditor. February 13 2002
Enron's chief eyes lawsuits
The interim chief executive of Enron is examining the possibility of launching a string of lawsuits in an attempt to recover more cash for the bankrupt energy group's creditors. He declined to comment on potential targets. However, one likely prospect is expected to be Andersen, the accountancy firm which was responsible for auditing Enron. March 6 2002
Concerns grow over Andersen's survival
Andersen has been stripped of business by two more large US companies, raising concerns about the firm's ability to survive as one of the world's biggest accounting groups in the wake of the Enron scandal. March 6 2002
Big Five uncomfortable in the spotlight
The spectacular collapse of Enron, the US energy trader, has put the work of the "Big Five" auditors under intense public scrutiny. March 5 2002
Buffett urges shareholders to take more active role
Warren Buffett, the celebrated billionaire investor, urged shareholders and audit committees to be more aggressive in their dealings with management and auditors. March 5 2002
Elan denies conflict over board links
Elan, the Irish pharmaceuticals group hit recently by accounting concerns, says it sees no conflict of interest in the connections between high-level personnel and KPMG, its auditor. March 5 2002
Merck axes Andersen as auditor after 30 years
Andersen tried to shore up confidence by announcing it had appointed Roy Vagelos, retired chairman and chief executive of Merck, the US pharmaceuticals company, as part of a board reviewing the firm's business practices. March 2 2002
Enron accountant and chief risk officer fired
Enron fired its chief accountant and chief risk officer as the most extensive account yet of events leading to its collapse was being rendered to a Congressional hearing. February 14 2002
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the accounting industry response |
Ernst & Young restricts audit work after Enron
Ernst & Young, the "Big Five" accountancy firm, is to stop offering internal audit work to its UK audit clients to address concerns about alleged conflicts of interest. February 22 2002
Andersen calls for sweeping reform of audit systems
Andersen, the embattled "Big Five" accounting firm, called for radical changes to the system of awarding companies passes or fails on audits. Joe Berardino, chief executive officer, told a congressional committee that accountants should instead award more flexible quality grades. February 5 2002
Paul Volcker: Messy work for Volcker, the clean-up man February 14 2002
Ken Lay: Staff say goodbye Ken and good riddance January 30 2002
Harvey Pitt: Harvey Pitt must prove his mettle January 30 2002
Andersen in merger talks with rival Deloitte
March 10 2002
Andersen hit again as Delta Air Lines defects
March 7 2002
Volcker calls for split of audit and consultancy roles March 6 2002
Andersen attempts to reassure potential recruits
March 6 2002
Merck defection hits Andersen where it hurts
March 4 2002
Speedy solution to Enron litigation looks doomed
February 28 2002
Andersen advised Labour on pension funds tax raid February 22 2002
Andersen suffers from Enron repercussions February 21 2002
Berardino says that Andersen's hands were tied February 6 2002
Andersen chief shifts blame in Enron debacle February 5 2002
Airtours set to face pressure on use of Andersen February 3 2002
Andersen website
US Securities and Exchange Commission website
Financial Accounting Standards Board website
Enron website
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