|[September 02, 2014]
Independent Tax Firm 'WTAS' Changes Its Name to 'Andersen Tax'
SAN FRANCISCO --(Business Wire)--
WTAS, one of the nation's largest independent tax firms, has acquired
the rights to the iconic brand name Andersen and will rename itself
Founded in 2002 by CEO Mark Vorsatz and 22 former Arthur Andersen
partners, WTAS' strong international growth required a common identity
for its global presence. In an effort to identify a brand name that it
could use and protect globally, WTAS felt the 'Andersen' name best
reflected its own culture of clients first, stewardship, transparency
and best in-class solutions.
"We all came from a common culture and shared certain core values," said
CEO Mark Vorsatz. "In creating a global platform, we recognized that the
development of an integrated professional service model based on common
values with a common identity was essential."
Andersen Tax, like WTAS, will be an independent global tax firm with no
audit practice that could impair the credibility or integrity of the
services it provides. It will be completely owned by its partners, most
who previously worked at Arthur Andersen or a Big 4 accounting firm.
As the needs of the firm's clients cntinued to expand beyond the U.S.,
WTAS focused on developing more comprehensive relationships with firms
outside the U.S. It evaluated a number of options and networks and
ultimately determined that building its own global platform was the best
solution to ensure the highest quality client service internationally.
In the last 14 months alone, WTAS has welcomed nearly 40 partners and
more than 150 professionals in nine locations across Europe. Studio
Associato De Vecchi in Italy, Paris-based STC Partners, PrimeTax AG in
Switzerland, and Taxperience in the Netherlands and Russia joined the
WTAS team with several other additions expected before the end of the
"We all share a vision of creating a premier independent tax firm that
delivers best-in-class service in a seamless fashion across the globe,"
Vorsatz said. "To achieve that, we needed one common name. Accordingly,
we are becoming Andersen Tax."
At its peak, Arthur Andersen and its affiliated firms had more than
85,000 employees worldwide. It closed its U.S. accounting operations in
2002 because of problems resulting from its audit of Enron, a Texas
"Many individuals and organizations were deeply affected by what
happened at Enron. But Arthur Andersen, at its best, was a firm that was
founded and managed on the basis of quality and objectivity by
world-class people with world-class training," Vorsatz said. "For
Andersen Tax, independence and objectivity are critical. To be clear, we
are not an audit firm and have no intention of providing audit services.
From the outset, our mission has been to serve as a quality alternative
to the large accounting firms who typically have audit practices, and as
a premier example of independence and objectivity."
Andersen Tax is expanding in the U.S. and Europe in the near term, with
expectations for future growth in Asia and Latin America.
"Our name may be changing, but our core values remain," Vorsatz said.
"We are building Andersen Tax to create an enduring place where clients
across the globe are afforded the best, most comprehensive tax services,
delivered by skilled professionals with the highest standards."
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