Why Andersen Cracked in IT Suit
March issue preview: In another blow for Arthur Andersen, the consultant agrees to shell out $11 million to collectibles-maker Department 56 over a failed information technology engagement. What went wrong?
Arthur Andersen is not just struggling with fallout of its auditing work at Enron, Global Crossing and Qwest Communications. Its information technology consulting also led to an agreement to pay Department 56an Eden Prairie, Minn., merchandiser of Snowbabies and other collectibles$11 million. Click here for the story behind the settlement, which was reported by the Securities and Exchange Commission on March 1.