NEW YORK, Jan. 22, 2002 – In response to inquiries resulting from recent media coverage regarding the Andersen/Enron matter, Accenture (NYSE: ACN) today made the following statement:
Some of the news coverage of the current situation facing Arthur Andersen and Enron contains misconceptions and inaccuracies about the historical relationship between Accenture and Arthur Andersen.
Accenture is not and never has been engaged in the practice of public accounting. Accenture had no involvement in Arthur Andersen's audit services, including audit services to Enron.
Accenture LLP and Arthur Andersen LLP have been separate legal entities and have operated independently since 1989.
In 1990, the United States Securities and Exchange Commission formally recognized Accenture LLP as an entity separate and distinct from Arthur Andersen LLP.
In August 2000, based on an arbitrator's decision in the International Chamber of Commerce proceedings commenced by Accenture in 1997, all remaining historical contractual ties between Arthur Andersen and Accenture were completely severed.
Perhaps just in time.
Perhaps not...