ONE YEAR AFTER ANDERSEN INDICTMENT: THREE FORMER EMPLOYEES START OVER

Timing is Ideal for New, Focused Tax Firm

CHICAGO, Illinois (PRWEB) March 15, 2003 -- One year after the obstruction of justice indictment against Andersen, three former Andersen employees who initially did not even know Enron was their companys client are building a new accounting practice from scratch.

Last March, Wesley Naviaux, Jeremy Dubow, and Joshua Harris were employees in Andersens Chicago tax practice. This March, the co-workers are celebrating their independence. Andersens demise opened the door to leaving the 'Big Four and creating their own new firm based on best practices and personalized attention.
   
May 2002, Naviaux, Dubow, and Harris joined Deloitte & Touche, along with more than 500 other former Andersen tax professionals. After six months at Deloitte, Naviaux, Dubow, and Harris submitted their resignations and began their plan for a new firm.

January 6, 2003, Naviaux, Dubow & Harris LLC (NDH") opened its doors for business. NDH is building its client base by focusing on start-up and smaller growth companies. Its partners will bring the same quality service Andersen clients enjoyed for nearly 100 years but at a much-reduced price, making the services more accessible to young businesses. NDH can deliver quality service due to its low overhead and desire to focus on long-term growth as opposed to short-term profit.

While at Andersen, we managed tax consulting and compliance engagements for prominent Chicago area closely-held businesses. At NDH we will bring the same skill set to our clients with personalized attention from the partners," says Naviaux. Were excited about the opportunity this gives us to help new businesses as they grow into major players in the local and national business communities," said Harris.

NDHs timing is proving to be ideal. The turmoil in the accounting industry has caused many businesses to consider new advisors. Furthermore, political and economic forces may lead to a splintering of the large accounting firms. Adding to the confusion, the Sarbanes Oxley Act has created considerable doubt about the ability of Big Four" firms to provide both audit and tax consulting services.

NDH provides tax consulting and preparation services for businesses and individuals. Its partners have significant experience providing tax services to some of the largest Chicago-area closely held businesses. They are intimately familiar with the complex tax issues these companies and their owners face and can help them avoid the dangerous pitfalls.

NDH offers expert estate and business succession planning services. Its partners have participated on the Arthur Andersen National Focal Person Group for family wealth planning, a national group of estate planning experts providing estate and business succession planning to well-known families. NDH can help business owners design a plan to minimize estate tax and address their business succession needs.

Naviaux holds a BS from Butler University and a JD from Indiana University School of Law. Prior to launching this new firm, he was a senior manager at Deloitte & Touche, and has eight years experience in a 'Big Four practice. Naviaux has significant experience consulting for prominent Chicago area closely held businesses and business owners. He has designed and implemented comprehensive estate and succession plans for numerous wealthy families. Naviaux lives with his wife and son in Wilmette.

Dubow earned a BSBA at Washington University in St. Louis. Formerly a manager at Deloitte & Touche with five years experience in the 'Big Four, Dubow is a tax generalist with significant experience developing partnership structures and is proficient in assisting closely held businesses with sophisticated tax planning. Dubow also specializes in wealth transfer planning for family-owned businesses and develops tax strategies for flow-through entities. Dubow grew up in Highland Park and currently lives in Chicago.

Harris earned a BBA from the University of Iowa. Harris was formerly a senior tax consultant for Deloitte & Touche and has spent three years in a 'Big Four practice. Harris has experience both preparing and reviewing corporate, individual, fiduciary, and partnership income tax returns. Harris also has assisted on the implementation of tax planning strategies for closely held businesses and wealthy individuals. Harriss hometown, Okoboji, is a small resort community in Northwest Iowa. He currently resides in Chicago.