Andersen name in the UK may go by 1 July

A spokeswoman for the firm said the two parties hoped due diligence would be completed shortly, despite fears regulators may take issue with a Big Four.

Meanwhile, it was also revealed today that Andersen partners will remain liable for any actions taken against the firm in the UK, with Deloitte not taking on any responsibility for its new partner.

‘We are combining with Deloitte rather than merging. As a result no money will be changing hands and Deloitte will not be taking on any Andersen liabilities,’ the spokeswoman added.

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