Arthur Andersen was a prominent accounting firm founded in 1913 by Arthur E. Andersen and Clarence DeLany. It became one of the "Big Five" accounting firms, providing auditing, tax, and consulting services to a wide range of clients, including large corporations and government entities. The firm faced a significant scandal in the early 2000s related to its audit of Enron, an energy company that collapsed due to widespread fraud. This scandal led to the firm's downfall, resulting in its closure in 2002 and a loss of credibility in the accounting profession.