Iomega Drops Arthur Andersen As Auditor After 22 Years

Iomega Arthur Andersen

Iomega spokesmen were not immediately available to say whether the switch had anything to do with Andersen's current legal problems, including an indictment connected to the muddy Enron affair.

Andersen had been Iomega's auditor since 1980, the company said.

In its filing, the company said it decided in January to solicit new bids for the position of independent auditor, as it does every year.

"A new audit team from Arthur Andersen was given the opportunity and did bid to retain the audit work," Iomega said in its SEC filing. "In making this decision, the Board considered the tenure of Arthur Andersen on the account, the possible benefits of having a new audit team to perform this work and the relocation of the Company's corporate headquarters from Roy, Utah to San Diego, California.

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"On March 19, 2002, after an extensive evaluation process and as recommended by Iomega's Audit Committee, the Board of Directors decided to appoint Ernst and Young LLP as Iomega's independent auditors for the 2002 fiscal year, replacing Arthur Andersen," Iomega said.

The company said there were no disputes between it and Andersen over any corporate auditing or accounting issues.