FIRST VIRTUAL DISMISSES PWC: Video software concern First Virtual Communications Inc. dismissed auditor PricewaterhouseCoopers and subsequently engaged Squar Milner Reehl & Williamson as its new independent accountant.In January, First Virtual filed for Chapter 11 protection. In August, the company filed a liquidation plan that proposed a reverse merger, whereby First Virtual Communications would acquire the assets of newly formed U.S. Dry Cleaning and change its name to U.S. Dry Cleaning Corp.
VELOCITY EXPRESS RETAINS UHY: Velocity Express Corp., a Westport, Conn.-based provider of transportation and distribution services, named UHY as its new independent accountant, replacing Big Four firm Ernst & Young.
According to a federal filing, in November, E&Y told Velocity that it would resign as auditor.
The reports of E&Y on Velocity's financials for the years ended July 2, 2005, and July 3, 2004, did not contain an adverse opinion or disclaimer, and were not further qualified or modified as to uncertainty, audit scope or accounting principles.
HANOVER DIRECT JETTISONS KPMG: Hanover Direct, a provider of branded merchandise through catalogs and e-commerce platforms, dismissed its auditor, Big Four firm KPMG.
A replacement was not immediately named.
In August, the company announced a delay in completing the audit of its 2004 financials and, as a result, would not be able to file its annual report for the year ended Dec. 25, 2004, or its quarterly reports for the fiscal quarters ended Sept. 25, 2004, and March 26, 2005. Also it would not be able to file its 10-Q for the 2005 second quarter on time.
OLD NATIONAL BANCORP HIRES CROWE CHIZEK: Old National Bancorp, the Evansville, Ind.-based holding company for Old National Bank, hired regional firm Crowe Chizek as its auditor. Crowe Chizek succeeds Big Four Firm PricewaterhouseCoopers as Old National Bancorp's independent accountant.
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