Reserved support for Andersen from FTSE-100
Andersen's FTSE-100 clients have cautiously come out in support of the embattled Big Five firm after it was indicted last night.
Although Andersen is the Big Five firm with the least amount of clients – only seven – loss of confidence from one of its big clients would be a major blow to their already tarnished reputation.
BskyB, like the majority of other companies is reservedly supporting them. A spokesman told AccountancyAge.com: ‘We have been happy with the work Andersen have done in the past and we are monitoring events as they occur.’
Cadbury Schweppes said Andersen had been its auditor for ten years and it had been satisfied with their work. Its board and audit committee had reviewed Andersen seriously and would seek the firm’s reappointment at its AGM in May.
But it added: ‘We reserve the right to keep the matter under review.’
Shire Phamaceuticals also said it was ‘keeping a watching eye on what is happening’.