VALENCE HIRES HELIN DONOVAN: Valence Technology Inc., an Austin, Texas-based developer of rechargeable battery technology, has hired the firm of Helin Donovan Trubee & Wilkinson as its independent accountant.Helin Donovan succeeds Big Four firm Deloitte & Touche as Valence's auditor.
According to a federal filing, there were no disagreements with D&T in connection with the audits of Valence financials for the years ended March 31, 2005 and 2006, and for the subsequent interim period through Aug. 21, 2006, on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.
However, during the fiscal year ended March 31, 2006, D&T identified one reportable event - a material weakness existed in that the company had an "insufficient number" of personnel with the appropriate technical accounting and Securities and Exchange Commission reporting expertise within the accounting function to perform a timely financial close process and maintain financial controls.
CAL-MAINE FOODS JETTISONS E&Y: Cal-Maine Foods, a producer, packager and marketer of shell egg products, dismissed Big Four firm Ernst & Young as its auditor and engaged Moore Stephens Frost PLC as its new independent accountant. In a filing, the company said that it wanted to change its independent accountant, a decision approved by its audit committee.
During the fiscal years ended May 28, 2005, and June 3, 2006, and the subsequent interim period, there were no disagreements between Cal-Maine and E&Y on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
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