Andersen undecided on audit spin-off
Embattled Big Five firm Andersen, today refused to rule out spinning off its audit arm into an independent company.
The firm said the issue was ‘under discussion’ but that any decision on whether or not it would split the audit arm away from the core business had not yet been made.
The question about the future of the firm’s audit arm forms part of structural changes being discussed by Andersen executives, and follows the collapse of audit client Enron.
A spokeswoman for the firm, confirmed: ‘Structural changes are being discussed but no conclusions have yet been reached.’