Andersen Polska announces merger with Ernst & Young

Andersen Polska, one of the biggest auditors on the domestic market, will merge with Ernst & Young (E&Y). This was confirmed by both companies in an official statement, and a letter of intent was signed yesterday. The new company will operate in Poland under the name of E&Y which would permit the entity to avoid bad associations with the Andersen name after the Enron scandal. Chairman of E&Y Krzysztof Kielbartowski will keep his position and chairman of Andersen Polska Duleep Aluwihare will become his deputy. S pecialists from Andersen will find jobs in the new E&Y, however their know-how will not be the biggest asset for the new company, rather the main profit from the merger is Andersen's clients. Andersen is in third place among auditing companies in Poland and serves 12 out of 15 biggest ent erprises on the domestic market. "For now the companies' statement is only a declaration. When the two parties agree, Andersen as a name in Poland will disappear", said Andersen's spokesman Bartlomiej Pawlak. (Rzeczpospolita, p. B1; Puls Biznesu, pp. 1, 4) A.D.