Catapult Communications has decided to replace Deloitte & Touche as its outside accounting firm to reduce accounting expenses.
The supplier of digital telecommunications testing systems said it has engaged the firm of Stonefield Josephson to replace Deloitte. Catapult insisted it had no disagreements with Deloitte during its tenure. However, the expenses incurred with the audit and internal control review work performed by Deloitte in fiscal 2007 totaled approximately $1,076,000. Catapult estimated that the expenses for the current fiscal year would amount to about $985,000 if it didn't change accounting firms.
The company estimated it will see potential savings of between 43 and 49 percent by switching to Los Angeles-based Stonefield Josephson. Deloitte did not immediately respond to a request for comment.
In an unrelated announcement, CommercePlanet announced that it was changing its outside accounting firm from Marcum & Kliegman to Jaspers & Hall. CommercePlanet CEO Tony Roth said he believed the transition to a new audit firm would further support the company's strategic direction, growth plans and application process for a national market listing in 2008. The e-commerce company is currently trading on the over-the-counter bulletin board.
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