Andersen 'asked to resign' drug audit
Struggling firm Andersen, has been 'asked to resign' as auditor of drug company Cambridge Antibody Technologies after 'a number of auditors left the firm'.
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.