Cadbury's to ditch Andersen for Deloitte
Cadbury-Schweppes has told shareholders it intends to take on Deloitte & Touche as auditor to succeed Andersen.
At yesterday’s AGM, the FTSE-100 company said that, as the Andersen practice in the UK is merging with Deloitte, the audit would also be transferred. But it added it would continue using Andersen as auditor until ‘any rearranging uncertainties are resolved.’
A spokeswoman explained that it would keep Andersen for 2002 and would change auditors in ‘due course,’ as the outcome of the deal with Deloitte emerges.
She added that because the company had advised shareholders of the switch, it would not have to call another meeting to change its auditors.
But the company maintained the position that it is ‘keeping the situation under review’ until the Deloittes/Andersen UK merger is finalised.