Stricken firm Andersen was left reeling today after losing its first UK audit client since becoming ensnared in the Enron affair - this despite assurances from listed busmaker Mayflower that its decision was not related to the crisis.
Mayflower, which has been audited by Andersen for five years, will next week recommend it replace Andersen with fierce rival PricewaterhouseCoopers. The decision was partly made by former prime minister John Major, in his capacity as a non-executive director at the company.
However, the decision was made in September last year, and the company maintained it always changes its auditors every five years.
Andersen, said: ‘Of course we are sorry that the board of Mayflower Corporation have chosen to change auditors. However this is part of a corporate governance process, which many organisations undertake.
‘Mayflowers decision to appoint another auditor was made in September 2001 and bears no relevance to the Enron investigation.’
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