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To: Willie Green
University of Toronto accounting professor Ramy Elitzur said Andersen is being treated as the industry's pariah despite its stellar past reputation and the fact that other top firms also have been involved in cases of negligence.

Thats a joke. Its taken my company years to get rid of those Andersen warts. Their reputation has been tarnished in recent years as Andersen has lost some high profile lawsuits. Most of these are regarding the failure to deliver what was promised because they sell people on the notion that their work will be done by experienced consultants when in fact its just overworked novices out of college who don't know a damn thing. Furthermore, Andersen has become famous for the "Neverending Project" which of course is accompanied by overcharging and neverending fees.

7 posted on 03/07/2002 1:47:55 PM PST by KC_Conspirator
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To: KC_Conspirator
Thats a joke. Its taken my company years to get rid of those Andersen warts

You're not wrong. I've run across some very arrogant toadies from AA. One of my customers said retaining them was like buying high priced junk.
8 posted on 03/07/2002 2:00:09 PM PST by pt17
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To: KC_Conspirator
Given AA STERLING(??????) record with such "LUMINARIES" as ENRON, GLOBAL CROSSING, HIH of Australia. If I were a shareholder in EITHER MERCK, DELTA, FREDDIE MAC... i'd be getting my money out of those companies POST HASTE now!!!! Let me GUESS which CO. Have been PRACTICING PRO FORMA ACCCOUNTING!!!!:-)))))Perhaps its time we start a DEATH WATCH LIST ON THESE COMPANIES GIVEN TIES TO AA????
9 posted on 03/07/2002 2:13:04 PM PST by Roger_W_Isom
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To: KC_Conspirator
Thats a joke. Its taken my company years to get rid of those Andersen warts.

I don't want to get into naming names, but years ago I worked as an Industrial Engineer for a well known company that had Arthur Anderson as the auditor.

The plant controller was an arrogant, ambitious Klintonic type that sabotaged production by vetoing requisitions for supplies, spare parts, repairs, etc. and placing all the blame on the engineers. A major brou-haha erupted when I pointed out in a quarterly operations review meeting that he'd been burying the resultant variance under a phony direct material component in our product's Bill of Material. (The impact was about $3½ million on $100 million sales volume!) Shoulda been picked up by Arthur Anderson when auditing our inventory every year.

The situation was rectified and the controller got canned. Unfortunately, I was labeled as a "whistle-blower" and "not a team player" by other scalawags in management. Screw 'em. The CEO appreciated my efforts on behalf of the stockholders (his family controlled about 30%). I've had a fairly thick skin ever since.

12 posted on 03/07/2002 2:19:31 PM PST by Willie Green
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