Washington (April 30, 2002) -- General Binding Corp. announced Monday that it has fired Arthur Andersen as its outside auditor and replaced the troubled accounting firm with PricewaterhouseCoopers.

 

General Binding filed papers noting the change with the Securities and Exchange Commission, which will become effective after Andersen completes its review of the company’s financial statements for the quarter that ended March 31.

 

The company did not cite Andersen’s ongoing Enron-related woes for the decision to switch auditors, but since the accounting firm was indicted in March it has lost hundreds of high-profile auditing engagements.

 

General Binding, of Northbrook, Ill., provides document-related products.

 

-- Electronic Accountant Newswire staff

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