BEST BUY TO DISMISS E&Y: National electronics retailer Best Buy Co. said that it would dismiss its auditor, Big Four firm Ernst & Young, following the completion of the fiscal 2005 audit -- which ends Feb. 26 -- due to a conflict of interest with a company director.
According to a federal filing, Best Buy said that the decision to jettison E&Y as its independent accountant stemmed from the May resignation of Mark C. Thompson, a former board and audit committee member. Thompson resigned his post earlier this year after it was revealed that he had an arrangement with E&Y to provide services for $377,500, plus expenses.
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