E&Y DECLINES RE-ELECTION AT TELETECH
Big Four firm Ernst & Young declined to stand for re-election as 2007 auditor to TeleTech Holdings Inc. No reason was given for E&Y's decision, but TeleTech, an Englewood, Colo.-based concern that provides business process outsourcing services, said that it has engaged PricewaterhouseCoopers as its new independent accountant.
Ernst & Young's reports on TeleTech's financials for fiscal 2005 and 2006 didn't contain any adverse opinion or disclaimer of opinion, nor were there any disagreements on accounting matters.
LEARNING TREE AUDITOR TO RESIGN
Learning Tree International, a Reston, Va.-based provider of education and training materials, said that Big Four firm Ernst & Young will resign as its auditor pending completion of the company's financials for the periods ending Dec. 29, 2006, and March 30, 2007. At press time, a successor firm had not been named.
Learning Tree said that there weren't any disagreements with its auditor over financial matters; however, in a filing, E&Y noted an ineffective control over financial reporting, citing weaknesses in the statement close process and accounting for income taxes.
CNET ENGAGES PWC
San Francisco-based CNet Networks has named Big Four firm PricewaterhouseCoopers as its new auditor, replacing KPMG.
The media concern did not state any disagreements with its former independent accountant over accounting principles or practices, and no reason was given for the change in auditing firms.
SIGMATEL SEEKS NEW AUDITOR
Semiconductor designer and developer SigmaTel has sent proposals out to several auditing firms to review the company's financials after its independent accountant, PricewaterhouseCoopers, declined to stand for re-election.
No reason was given for PwC's decision, and SigmaTel said that it had no disagreements with the firm over accounting matters.
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