Andersen suffers first client loss
A client drift away from under-siege Andersen could have started today, after it was revealed US hospitality operator Hard Rock Hotel has axed the firm as its auditor.
According to an SEC filing the Chicago-based firm has been dropped and replaced by Big Five competitor Deloitte & Touche, the first major client to leave the firm since the Enron debacle began.
The filing stated the change was recommended by the hotel group’s management, but declined to specify a reason for the switch. Hard Rock took on Andersen in April 2001.
The blow comes as reports have today suggested top UK Andersen executives may be on the verge of moving on in light of Enron scandal.