| |
Accounting
Andersen Clients Evacuate Post-Verdict
Penelope Patsuris, 08.14.02, 4:00 PM ET
For six months the primary point of interest in our Andersen Defection Directory has been the staggering sum of billings that departing clients were taking with them, crippling the firm that was being sold for parts. Now, with the guilty verdict against the firm, the point of lost revenue is surely moot--if it wasn't already.
With Arthur Andersen prohibited from auditing public clients after August 31, the directory instead paints a sad portrait of the firm's swift destruction, despite the fact that just months ago it was considered to be the most reputable in the accounting industry.
Defections By Month:
June 2002
May 2002
April 2002
March 2002
February 2002
January 2002
| The Andersen Defection Directory: August 2002 |
| Client |
Date Of Dismissal |
Billings |
2001 Revenue |
New Auditor |
| RailWorks
(otc:
RWKSQ -
news
-
people
) |
Aug. 14 |
$1,318,570 |
$616 million |
PricewaterhouseCoopers |
| Boots & Coots International Well Control
(amex:
WEL -
news
-
people
) |
Aug. 13 |
$371,300 |
$36 million |
Mann Frankfort Stein & Lipp |
| Encision
(otc:
ECSN -
news
-
people
) |
Aug. 12 |
$45,000 |
$4.8 million |
KPMG |
| IPrint Technologies
(nasdaq:
IPRT -
news
-
people
) |
Aug. 12 |
$813,735 |
$17 million |
BDO Seidman |
| AmeriVest Properties
(amex:
AMV -
news
-
people
) |
Aug. 9 |
$196,505 |
$10 million |
KPMG |
| Champps Entertainment
(nasdaq:
CMPP -
news
-
people
) |
Aug. 9 |
$308, 629 |
$133 million |
KPMG |
| Hauser
(otc:
HAUS -
news
-
people
) |
Aug. 9 |
$168,000 |
$66 million |
BDO Seidman |
| Thomas Nelson
(nyse:
TNM -
news
-
people
) |
Aug. 9 |
$332,043 |
$214 million |
KPMG |
| XETA Technologies
(nasdaq:
XETA -
news
-
people
) |
Aug. 9 |
$200,000 |
$86 million |
Grant Thornton |
| Synagro Technologies
(nasdaq:
SYGR -
news
-
people
) |
Aug. 7 |
$505,134 |
$260 million |
PricewaterhouseCoopers |
| Interleukin Genetics
(nasdaq:
ILGN -
news
-
people
) |
Aug. 5 |
$57,000 |
$203,000 |
Grant Thornton |
| Tarragon Realty Investors
(nasdaq:
TARR -
news
-
people
) |
Aug. 5 |
$232,000 |
$117 million |
Grant Thornton |
| Featherlite
(nasdaq:
FTHR -
news
-
people
) |
Aug. 2 |
$206,800 |
$212 million |
Deloitte & Touche |
| Landry's Restaurants
(nyse:
LNY -
news
-
people
) |
Aug. 2 |
$514,892 |
$746 million |
Deloitte & Touche |
|
| Sources: SEC filings, companies |
Amounts paid or payable for auditing the accounts of the parent entity and certain controlled entities.
More From Forbes
Accounting For Andersen Accounts
The Corporate Scandal Sheet
 |
|
Related stories
Tarragon Realty Investors says it will expense options
Related quotes
|
Expert Advice to Help Put Your Portfolio in the Best Shape Forbes.com offers you access to some of the world's best investment advisors and commentators. Combine our helpful analysis with our useful investing tools to make the most of your investments. 
|
Analysis:
Commentary:
Tools:
- Fund Screener
- Corporate Events Calendar
|
|
|
|
|
