Arthur Andersen contracting cut after indictment
Facebook Twitter Email
FRIDAY, MARCH 15, 2002

Failed energy company Enron and accounting firm Arthur Anderson have been suspended from entering into new federal contracts.

The General Services Administration has determined that both companies have not exhibited professional standards With regard to existing contracts, the GSA is still reviewing those.

The suspension, which can be appealed within 30 days, comes after Andersen was indicted yesterday by a federal jury on one count of obstruction of justice for allegedly shredding documents related to Enron. Enron went bankrupt last fall and subsequently fired Andersen as its accountant.

Andersen's suspension will last for the duration of its indictment. Enron's will last one year.

Additionally, current and former executives of both companies are barred from new contracts. Related subsidiaries are also included.

Andersen holds a number of contracts to conduct historical accounting projects for the Individual Indian Money (IIM) trust. According to department officials, the firm has completed one such accounting for members of a California tribe.

Get the Story:
GSA Suspends Enron and Arthur Andersen and Former Officials (GSA 3/15)
GSA Places Enron, Anderson on Suspension (The Washington Post 3/15)
GSA suspends accounting firm, Enron from doing business with government (AP 3/15)
Andersen Indicted in Shredding Probe (The Washington Post 3/15)
Andersen: One Player in Big Drama (The Washington Post 3/15)

Relevant Links:
Arthur Andersen -
Enron -

Related Stories:
Ties to Enron test Army official (3/13)
Norton 'not aware' of Enron dealings (2/21)
Enron whistleblower goes to Congress (2/15)
Mohegan Tribe might fire Andersen (2/15)
GAO: Full reconciliation impossible (2/8)
IIM accountant making changes (2/5)
Under fire, Andersen makes changes (2/4)
Enron: Stop the shredding! (1/30)
Andersen facing client issues (1/29)
White House orders Andersen review (1/25)
Enron / Andersen hearings kick off (1/25)
Enron / Andersen hearings start today (1/24)
Subpoenas sent to Andersen (1/23)
Trust reform, according to Norton (1/22)
Shredding reported despite probe (1/22)
Andersen taking on IIM accounting (1/18)
Arthur Andersen fired by Enron (1/18)
Andersen questioned Enron relationship (1/17)
Andersen faces rocky future (1/16)

Stay Connected
Trending in News
News Archive
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000

About This Page

You are enjoying stories from the Indianz.Com Archive, a collection dating back to 2000. Some outgoing links may no longer work due to age.

All stories are available for publishing via Creative Commons License: Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)