PWC EXITS AS BEARINGPOINT AUDITORBig Four firm PricewaterhouseCoopers resigned as independent accountant to troubled global consulting firm BearingPoint Inc., declining to stand for re-election.

In a filing, the McLean, Va.-based BearingPoint said that it had no disagreements with its former auditor on any matters of accounting principles or practices during the company's fiscal years ended Dec. 31, 2004, 2005 and 2006, and through Feb. 5, 2007.

The company has subsequently hired Ernst & Young as its new independent accountant.

The former KPMG Consulting had delayed filing several of its mandatory quarterly reports with the Securities and Exchange Commission.


Big Four firm PricewaterhouseCoopers has been engaged as independent accountant for CMS Energy Corp., a Jackson, Mich.-based provider of electricity and natural gas.

In November, CMS jettisoned Ernst & Young LLP as its auditor. However, in a filing, it said that E&Y would continue as the auditor for the company's 2006 financials. No reason was given for the change in independent accountants.

PricewaterhouseCoopers will also serve as independent accountant to CMS's Consumers Energy Co. unit.

The change comes as parent company CMS Enterprises Co. agreed to divest its Argentine assets and its northern Michigan non-utility gas gathering, processing and pipeline businesses for $180 million to an Argentine company.


Plato Learning Inc., a Bloomington, Minn.-based manufacturer of education and teaching products, said that its audit committee had dismissed Big Four firm PricewaterhouseCoopers as its auditor.

PwC said that there were no reportable events in Plato's financials over the past two years, with the exception of a material weakness over the reporting of pro forma stock-based compensation expense in the company's 2004 fiscal year.

At press time, Plato indicated in a filing that it had received a proposal from another, as-yet unidentified, audit firm.

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