Black Wednesday for Andersen in US

Black Wednesday for Andersen in US

Rapidly disappearing firm Andersen has seen its business shrink even further from view with six companies ditching it as auditor today (Wednesday) alone.

The biggest of these, was online ticket vendor Tickets.com, which dumped Andersen in favour of Deloitte & Touche in a Form 8-K filing made with the US Securities & Exchange Commission. No reason was given for the decision. In 2001 Andersen billed Tickets.com $348,500 (£236,000) for audit services and $33,000 for non-audit work.

Enzyme therapy developer BioMarin Pharmaceuticals ditched Andersen in favour of KPMG in what has become a weekly, if not daily, event in the life of what was once the fifth largest accountancy firm in the world.

Investment company Brantley Capital ditched the firm for KPMG, as did SOS Staffing Services, while Telex Communications went with Ernst & Young. Study body, School Speciality dismissed Andersen in favour of Deloitte & Touche.

Meanwhile, Vertex, a tax compliance software developer has agreed to buy the income tax software unit of Andersen.

Share

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

1y Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

1y Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

4y Accountancy Age

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

1y Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article