Plans to merge accountants KPMG and Arthur Andersen's non-US business were ditched today, following the decision of a number of countries to forge alliances with rival groups.
In a joint statement the companies said a deal embracing all the non-US firms was not achievable, but attempts to merge Andersen's Irish operation with KPMG are continuing.
KPMG's managing partner in Ireland Jerome Kennedy said the talks with Andersen were ongoing and positive.
The decision of Andersen's Spanish arm to strike a deal with rival Deloitte & Touche, and the withdrawal of Andersen's consulting arm from any merger proposals, has derailed the smooth transfer of Andersen's non-US businesses into the arms of KPMG.
