Andersen releases
UH grads from their
job commitments

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By Dave Segal
dsegal@starbulletin.com

Arthur Andersen LLP's Hawaii branch has informed four University of Hawaii accounting students that they are being released from commitments they made to join the accounting firm when they graduate.

However, Ross Murakami, an audit partner for the firm's Bishop Street office -- the only branch in Hawaii -- said his firm has stopped short of actually rescinding offers like has been done by the firm's offices in four other states. An Associated Press report today said Andersen was withdrawing about 300 job offers made to accounting graduates in Phoenix, Nevada, Southern California and New Mexico.

"We need to provide these recruits, given all the uncertainty we're gone through, an opportunity to consider other opportunities for employment," Murakami said. "Once we get through this uncertainty -- and we feel we'll come through this -- we'll be able to fulfill our obligation to them if them still want to come here. But we don't want them to bind them to the commitment they made when they went through the recruiting process."

In the meantime, Murakami said his firm is willing to call other firms on the students' behalf if they want to explore other opportunities. Since the starting dates for the UH graduates range from six to 11 months from now, Murakami said they should have a clearer idea at that time what the situation will be like at Andersen.

Despite the exodus of hundreds of Andersen clients on the mainland, Murakami said the Hawaii office, which has between 60 and 65 employees, hasn't lost a single client.

"Our local clients recognize the value of who we are, and where there is concern about what happened on the mainland, they've stuck with us and have been very loyal," said Murakami, adding that no publicly traded Hawaii companies use Andersen's services.