Arthur Andersen LLP, based in Chicago, was once one of the Big Five accounting firms (the other four being PricewaterhouseCoopers, Deloitte, Ernst & Young and KPMG), performing auditing, tax, and consulting services for large corporations.
In 2002, the firm voluntarily surrendered its licences to practice as Certified Public Accountants in the U.S. after being found guilty of criminal charges relating to the firm's handling of the auditing of Enron, the energy corporation, resulting in the loss of 85,000 jobs. Although the verdict was subsequently overturned by the Supreme Court of the United States, it has not returned as a viable business.
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