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- Title
Accounting for the Big Five Breakups.
- Authors
Sweeney, Paul
- Abstract
This article examines how several large accounting firms fared after accounting scandals and increased government oversight effected their business plans. An increased focus on conflict of interest between consulting and accounting provoked the divestiture of several firms. Ernst & Young LLP sold its information technology unit to Cap Gemini, while PriceWaterhouseCooper LLP sold its consulting division to IBM. Arthur Anderson ceased to exist as an accounting firm and its consulting division was renamed Accenture.
- Subjects
ACCOUNTING firms; CONSULTING firms; ERNST &; Young LLP; PRICEWATERHOUSECOOPERS LLP; ARTHUR Andersen LLP; CORPORATE divestiture; SUBSIDIARY corporations; CONFLICT of interests; FINANCE companies; FINANCIAL services industry; ACCENTURE (Company); CAPGEMINI SE
- Publication
Financial Executive, 2002, Vol 18, Issue 7, p16
- ISSN
0895-4186
- Publication type
Article