KPMG and Andersen: what it means for the FTSE-100

In the latest Financial Director survey, KPMG earned £57m in audit fees from 24 of the the top 100 companies, while Andersen earned £9m in audit fees from its eight clients. The firms also earned £172m and £28m respectively in disclosed non-audit fees from audit clients. (Non-audit fees from other auditors? clients do not form part of the survey as they are not generally disclosed in client annual reports.)

A merger between the two firms would still rank second behind PwC, with £97m in audit fees and £362m in non-audit fees from the FTSE-100.

Andersen’s FTSE-100 clients: Amvescap, British Land, BSkyB, Cadbury Schweppes, Canary Wharf, Safeway, Shire Pharmaceuticals, WPP (source: Financial Director, January 2002)

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