The move came as little surprise as Andersen’s New Zealand operations had already agreed a deal with E&Y when talks with KPMG in Australia floundered over conflicts arising from the HIH insurance collapse.
E&Y had already raised the possibility of further deals around the world – earlier this week, E&Y’s global chief executive Bill Kimsey told Accountancy Age: ‘We have expressed an interest in talks with Andersen all around the world outside the US.’
Talks are still on-going between Andersen and KPMG over the future of the rest of the non-US network, though PwC has already grabbed Andersen’s China and Hong Kong practices.
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