WPP ditches Andersen and opts for Deloitte
Advertising and marketing group WPP has today become the latest company to axe crumbling Andersen as its auditor, following the firm's involvement in the Enron affair.
However, the company said it had decided to appoint Deloitte & Touche as its new auditor – the firm which is acquiring Andersen – meaning WPP is likely to continue to be audited by the same individuals.
Shareholders will be asked to approve the decision at it’s upcoming annual general meeting.
The decision follows months of speculation about whether WPP would retain Andersen after the accounting firm’s London office was named in the Enron saga.
WPP is the latest in a long line of high-profile clients to have deserted Andersen. It is estimated some 90 companies have axed Andersen in the last week alone.