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Final Accounting : Ambition, Greed and the Fall of Arthur Andersen

Final Accounting : Ambition, Greed and the Fall of Arthur Andersen

List Price: $24.95
Your Price: $15.72
Product Info Reviews

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Rating: 4 stars
Summary: A very good commentary on Arthur Anderson.
Review: A very good commentary on the fall of Arthur Anderson and them times. The author was an Anderson insider and fairly senior. She is also an ethics professional and was involved in ethics consulting while at Anderson. This makes her accounting all the more interesting. The book is also fairly readable.

Rating: 4 stars
Summary: Very Accurate 'Accounting' of Andersen
Review: After reading the entire book in a few days (very good and easy read), I have to agree with most (if not all) of the points raised by Barbara. From my perspective, the only thing this booked lacked was a complete ending. Barbara left Andersen in 1999, long before the bottom fell out.

If she thought the behavior and ethics gaps were wide in 1999, she would have vomited outright at the lack of ethical behavior that took place during the collapse. For example, the 'executive committee', in an attempt to ensure that the firm was repaid monies that were ostensibly owed to Citibank by Andersen, offered exiting partners a 'choice' to pay off their capital loans (by signing a new promissory note with Citibank upon exiting the firm) or simply stay at the firm with their non-compete clause intact for a year (even though Anderson was barred from any client work at this point). This was tantamount to trapping those [partners] within the firm until the firm saw fit to terminate. Additionally, if and when the termination occurred, the partner would not be eligible for severance since they did not accept the 'choice' that was previously presented.

This book will obviously infuriate the old guard of Andersen. That fact is as much a testament to the wanton hubris, greed and arrogance that killed the firm as it is to the hard truth being communicated within 'Final Accounting'

Rating: 5 stars
Summary: Excellent Book
Review: As a former (non-Android) Andersen person who worked closely with many of the people mentioned in Toffler's book right up to the bitter end, I can attest to the accuracy of her inside view of Andersen. Sadly, her experiences there mirrored many of my own and I agree with all of her conclusions about what really caused the downfall of the firm - i.e., it was management (or lack thereof), not the government, that killed the firm. I highly recommend this book for anyone interested in Andersen specifically or in corporate culture and ethics in general.

Rating: 4 stars
Summary: Appears to be Accurate
Review: As a former Andersen employee (1997-2002), I enjoyed reading this book. I particularly liked the author's explanation of how the partners are compensated - which explains the true motivation behind the decisions that didn't otherwise seem logical. The authors' claims usually jibed with my own experience. As such, the book greatly diminished my perception of the company that I once was so proud to be a part of. I realized that, like Enron, Andersen was masterful in creating an illusion of integrity, capability, and prestige that most others perceived as reality. I tend to agree with the author that towards the end, people were more interested in making money than serving their stakeholders.

Rating: 4 stars
Summary: A very good commentary on Arthur Anderson.
Review: As a former Andersen Partner, who, like Barbara, was also an experienced hire, I must say this book reads like the National Enquirer! It sensationalizes the negative and overlooks the many positive things Andersen did for its people and its clients. The firm that I joined and knew helped many clients, and launched and enhanced many careers. The 85,000 people who represented Andersen are your friends, your relatives, your neighbors, your colleagues, your clients and your vendors. The vast majority are people of high intellect and high integrity who did not behave in the manner described in this book. This book is a shameful portrayal of the people of Arthur Andersen that enhances the author's pocketbook at the expense of others' reputations in the community.

Rating: 2 stars
Summary: The National Enquirer
Review: As a former Andersen Partner, who, like Barbara, was also an experienced hire, I must say this book reads like the National Enquirer! It sensationalizes the negative and overlooks the many positive things Andersen did for its people and its clients. The firm that I joined and knew helped many clients, and launched and enhanced many careers. The 85,000 people who represented Andersen are your friends, your relatives, your neighbors, your colleagues, your clients and your vendors. The vast majority are people of high intellect and high integrity who did not behave in the manner described in this book. This book is a shameful portrayal of the people of Arthur Andersen that enhances the author's pocketbook at the expense of others' reputations in the community.

Rating: 5 stars
Summary: Very insightful and mandatory reading for former AA&Co's
Review: As an alumni of Arthur Andersen, I found the cultural changes fascinating. I think any former alumnus must read this book and I believe anyone who sells professional services needs to understand how quickly one can cross the line.

Rating: 1 stars
Summary: Biased, Hypocritical & Untruthful in Part
Review: Final Accounting: Ambition, Greed and the Fall of Arthur Andersen is sort of like a hamburger served at a cheap fast food restaurant. It has plenty of bread at both ends but not much meat midway through.

Barbara Toffler gives a good introduction to whats it is like to interview and train for Arthur Andersen. She gives valuable insight of the mentoring relationships as well and how things sometimes changed rapid fire for her. In addition, it was quite interesting to note how the Audit and Consulting groups never seemd to play for the same team.

However, midway through the book, the reading becomes quite a chore. Way too much repetition about the author's inability to generate sufficient revenues. Toffler does not distinguish herself as a Big Person within Arthur Andersen as she merely makes excuses that anyone reading this review could make. The chapters on massive billing are such a bore. This issue happens everyday at law firms. Anyone who has every watched LA Law would know this. The repeated obstacles that Toffler faced really could have happened anywhere.

All of a sudden, Toffler jumps into the Enron and MCI incidents without sufficient detail. Why did Duncan order the paper shredding? Furthermore, the dry writing style makes it nearly impossible for an outsider to maintain their attention span. Its like you had either work for Arthur Andersen or a similar firm to even relate.

The conclusion to Final Accounting is decent. Toffler is fair in her judgement and places some blame on her own shoulders. However, there are way too many questions left unanswered. Overall, a better book still needs to be written on this subject that will appeal to the average worker in a large corporation.

Rating: 2 stars
Summary: Very Erratic
Review: Final Accounting: Ambition, Greed and the Fall of Arthur Andersen is sort of like a hamburger served at a cheap fast food restaurant. It has plenty of bread at both ends but not much meat midway through.

Barbara Toffler gives a good introduction to whats it is like to interview and train for Arthur Andersen. She gives valuable insight of the mentoring relationships as well and how things sometimes changed rapid fire for her. In addition, it was quite interesting to note how the Audit and Consulting groups never seemd to play for the same team.

However, midway through the book, the reading becomes quite a chore. Way too much repetition about the author's inability to generate sufficient revenues. Toffler does not distinguish herself as a Big Person within Arthur Andersen as she merely makes excuses that anyone reading this review could make. The chapters on massive billing are such a bore. This issue happens everyday at law firms. Anyone who has every watched LA Law would know this. The repeated obstacles that Toffler faced really could have happened anywhere.

All of a sudden, Toffler jumps into the Enron and MCI incidents without sufficient detail. Why did Duncan order the paper shredding? Furthermore, the dry writing style makes it nearly impossible for an outsider to maintain their attention span. Its like you had either work for Arthur Andersen or a similar firm to even relate.

The conclusion to Final Accounting is decent. Toffler is fair in her judgement and places some blame on her own shoulders. However, there are way too many questions left unanswered. Overall, a better book still needs to be written on this subject that will appeal to the average worker in a large corporation.

Rating: 5 stars
Summary: Fantastic book!
Review: I am a manager of a bank and I work often with ex Andersen people. The book is really honest and give a perfect image of the reality.


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