State to Bar Andersen License
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In the latest blow to onetime accounting giant Arthur Andersen, the state Board of Accountancy said it will seek to bar the beleaguered firm from practicing public accounting in California.
The board announced its intention Friday, the same day Texas revoked Arthur Andersen’s license to practice in that state. The California Board of Accountancy, under state law, can take a similar step based on disciplinary action by another state, government or agency.
Andersen was convicted by a Houston jury in June of obstruction of justice in a federal investigation of the financial collapse of its client Enron Corp. The Houston-based energy trader filed for bankruptcy court protection in December.
Andersen, in fact, already stated last month that it was voluntarily giving up its right to practice in California as of July 31.
Andersen was first licensed in California in 1946 and at one time operated 10 offices around the state.
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