“RECLAIMING THE LEGACY” is the headline on the website of WTAS, a US consultancy that has rebranded to Andersen Tax.
Twelve years after the Big Five firm Andersen collapsed as its role in the Enron scandal saw its existence untenable, WTAS has acquired the brand.
WTAS was itself formed by former Andersen partners. Mark L. Vorsatz, CEO and managing director of Andersen Tax, said the rebrand was part of its strategy to grow geographically, and represent its high quality client service.
“Most of us, both those who worked at Arthur Andersen and those who did not, believe that the name ‘Andersen’ best represents those core values,” said Vorsatz in a statement on the firm’s website. “Accordingly, we are changing our firm’s name to Andersen Tax, which will be a member of the international entity we are creating called Andersen Global.”
Andersen was split apart in 2002, as clients ditched the firm after it faced the US courts over allegations of document shredding relating to Enron. In 2005 the Supreme Court overturned Andersen’s conviction for destroying Enron-related documents before the company’s collapse.
“I recognise that discussions about Enron may resurface as a result of this announcement… To be clear, we are not an audit firm and have no intention of providing audit services. In fact, from the outset our mission has been to serve as a quality alternative to the large accounting firms and a premier example of independence and objectivity,” Vorsatz added.
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