BBB Business Review

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This business is not BBB accredited.

Arthur Andersen LLP

Additional Locations

Phone: (312) 580-0033 Fax: (312) 507-3872 View Additional Phone Numbers 33 W. Monroe St., Chicago, IL 60603 http://www.arthurandersen.com


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BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Arthur Andersen LLP include:

  • Length of time business has been operating
  • No complaints filed with BBB


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Additional Complaint Information

On October 17, 2001 the Securities and Exchange Commission launched an inquiry into the financial collapse of Enron, Corp. This inquiry focused on the role of Arthur Andersen LLP, Enron's long-time auditor. The Justice Department also established a task force in January, 2002 to investigate matters that arose following the collapse. In March 2002 a federal grand jury in Houston, Texas charged Arthur Andersen's partnership with obstruction of justice, for destroying paper documents and electronic information with the intent to impair the use of this information in an official government proceeding.

Arthur Andersen (AA) has made the following responses:

* the action taken against AA by the U.S. Department of Justice (DOJ) is without precedent and extraordinary abuse of prosecutorial discretion.

* Given the circumstances of the investigation, AA believes this is a gross abuse of government power.

* The DOJ has refused to allow AA to tell its story to the grand jury, in violation of both the DOJ policy and the basic precepts of fundamental fairness.

* It is unclear what evidence was presented or whether any witnesses appeared before a grand jury.

* A criminal prosecution against the entire AA firm for obstruction of justice is both factually and legally baseless.

* No complaints have been received by the BBB during the past three years.

* Once AA learned of the document obstruction issue in its Houston office, it immediately notified the DOJ and SEC.

* AA said it was prepared to impost penalties on its partners directly involved but delayed doing so in deference to the DOJ's investigations.

* The DOJ's actions ignore the fact that AA discovered the activities and brought them to the attention of the DOJ and has cooperated fully with the investigation.

* On May 1, 2002 AA stated: "we regret that talks regarding a civil settlement with the lead class plaintiff, the Enron bankruptcy estate, and company creditors have ended. We've worked in good faith over the last several months to resolve these matters to the benefit of all parties. During the discussions considerable progress was made, but unfortunately, the plaintiff could not resolve several differences among themselves and with defendants other than AA".

A trial on the charge began on May 6, 2002 in a Houston, Texas Federal Court.

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Arthur Andersen LLP
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: May 01, 1930 Business started: 01/01/1913 Business started locally: 01/01/1913
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Illinois Department of Financial and Professional Regulation
100 W. Randolph, 9th Fl, Chicago IL 60601
http://www.idfpr.com
Phone Number: (312) 814-4500

Business Management
Mr. Ronald A. Ballschmiede, Partner
Contact Information
Principal: Mr. Ronald A. Ballschmiede, Partner
Business Category

Accountants - Certified Public Offices of Certified Public Accountants (NAICS: 541211)

X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.