More than a decade after Enron Corp. auditor Arthur Andersen cratered in the wake of a federal indictment, some of its former partners are resurrecting the name.
The new identity is designed to capitalize on the defunct firm’s reputation for quality work -- before it was sullied in 2002 by charges of document shredding and obstructing a Justice Department investigation into book-cooking at Enron.
'Our issues with Enron were the mistake of a few,' said Mark Vorsatz, WTAS’s CEO, who started the company 12 years ago with 22 other former Andersen partners. 'Irrespective of Enron, we thought we were the benchmark in the industry.'
While the newly christened AndersenTax is counting on the name change to set the firm apart as it expands in the U.S. and overseas, the moniker may dredge up memories of the accounting scandals that drove Enron, WorldCom Inc. and other companies into bankruptcy.
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