According to the drugs group, several auditors based at the firm’s Cambridge office quit the firm earlier this year, prompting CAT’s board to reconsider its position.
Andersen had been CAT’s auditor for five years. A spokeswoman for the company, said: ‘We asked the firm to resign after auditors, we had enjoyed good relationships with, left the firm in February.’
The move was announced to the London Stock Exchange, in which Deloitte was announced as Andersen’s replacement.
CAT’s board of directors said it was fully committed to ensuring it’s auditors maintained complete independence and objectivity.
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Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day