Accenture has the last laugh

LIKE most divorces, the messy break-up of accountancy group Arthur Andersen and its management consulting arm has left one clear winner. Andersen has become embroiled in the Enron scandal. As the fallen energy trading giant's auditor, it failed to spot the big black holes and funny finances which led to the £45bn collapse in November.

Its admission last week that it destroyed Enron-related documents leaves it vulnerable to other, more serious accusations. It is now under federal investigation.

In contrast, the former Andersen Consulting is powering ahead. Renamed Accenture, it floated on Wall Street last year for £10bn. Its shares have doubled.

The 2,500 partners, including 275 in Britain, have seen their paper fortunes soar to an average £6m. Chief executive Joe Forehand is worth £27m.

Accenture has just posted £285m quarterly profits on record sales, as a growing boom in back office 'outsourcing' more than offset the slump in technology spending.

An Accenture source said: 'Thankfully, we don't have a relationship with Andersen any more. We are totally separate companies.'

Andersen wanted £10bn alimony when the pair parted, but the courts turned it down. In most divorces the winners are the lawyers. But never bet against the management consultants.