Illinois tool works appoints Deloitte as auditor: After severing its 50-year auditing relationship with Big Five firm Andersen, Illinois Tool Works Inc. hired rival Deloitte & Touche LLP as external auditor to succeed the embattled firm.
Based in Glenview, Ill., ITW, a manufacturer of engineered components and industrial systems, said that the decision to retain Deloitte had followed an earlier recommendation by the audit committee to replace Andersen.
According to the company’s proxy statement, ITW paid Andersen roughly $13 million in fees, of which $3.5 were for audit services.
mPhase taps Rosenberg Rich Baker Berman: mPhase Technologies Inc., a Norwalk, Conn. designer of digital TV and high-speed data solutions for the communications industries, appointed Rosenberg Rich Baker Berman and Co. as its independent auditor.
Rosenberg Rich succeeds Big Five firm Andersen as auditor. In an 8-K filing with the Securities and Exchange Commission, for the fiscal year ended June 30, 2001, Andersen had raised "substantial doubt" about mPhase’s ability to continue as a going concern. The auditor said that mPhase Technologies had suffered recurring losses from operations.
Chattem selects E&Y as 2002 auditor: Consumer products manufacturer Chattem Inc. said that its board has appointed Ernst & Young LLP as the company’s independent auditor for its 2002 fiscal year.
Ernst & Young LLP will replace Andersen as the independent auditor for the concern. The board’s appointment of E&Y was made on the recommendation of Chattem’s internal audit committee.
The company said that the auditor change was not a result of any disagreement with Andersen regarding accounting principles or financial disclosure.
Headquartered in Chattanooga, Tenn., Chattem Inc. markets branded consumer products including health, beauty and skin care products.
Form 8-K Filings
American General Finance Corp. (Evansville, Ind.), from Ernst & Young to PricewaterhouseCoopers.
Anchor Glass Container Corp. (Tampa, Fla.), from Andersen to PricewaterhouseCoopers.
Applied Digital Solutions Inc. (Palm Beach, Fla.), from PricewaterhouseCoopers to Grant Thornton.
Atchison Casting Corp. (Atchison, Kan.), from Deloitte & Touche to KPMG.
Caremark Rx Inc. (Birmingham, Ala.), from Andersen to KPMG.
Charter Communication Holdings (St. Louis), from Andersen to KPMG.
Digital Angel Corp. (South St. Paul, Minn.), from BDO Seidman to Grant Thornton.
Fleetwood Enterprises Inc. (Riverside, Calif.), from Andersen to Ernst & Young.
Glycogenesys Inc. (Boston), from Andersen to Deloitte & Touche.
Industrialex Manufacturing Corp. (Longmont, Calif.), from Deloitte & Touche to Hein + Associates.
Insignia Financial Group Inc. (New York), from Ernst & Young to KPMG.
IPC Holdings (Pembroke, Bermuda), from Andersen to KPMG.
K2 Digital Inc. (New York), from Andersen to Rothstein, Kass & Co.
Kimball International Inc. (Jasper, Ind.), from Andersen to Deloitte & Touche.
McLaren Performance Technologies (Livonia, Mich.), from Ernst & Young to Grant Thornton.
National Consumer Cooperative Bank (Washington, D.C.), from Andersen to KPMG.
Onyx Software Corp. (Bellevue, Wash.), from Ernst & Young to KPMG.
PacificHealth Laboratories Inc. (Woodbridge, N.J.), from Larson, Allen, Weishair & Co. to Richard A. Eisner & Co.
Perini Corp. (Framingham, Mass.), from Andersen to Deloitte & Touche.
Pogo Producing Co. (Houston), from Andersen to PricewaterhouseCoopers.
Quadramed Corp. (San Rafael, Calif.), from Pisenti & Brinker to PricewaterhouseCoopers.
Republic First Bancorp Inc. (Philadelphia), from KPMG to Grant Thornton.
ServiceWare Technologies Inc. (Oakmont, Pa.), from Ernst & Young to PricewaterhouseCoopers.
St. Joseph Capital Corp. (Mishawaka, Ind.), from Crowe, Chizek and Co. to Plante & Moran.
TeamStaff Inc. (South Plainfield, N.J.), from Andersen to PricewaterhouseCoopers.
Westerbeke Corp. (Taunton, Mass.), from KPMG to Sansiveri, Kimball & McNamee.
ZAP (Sebastopol, Calif.), from Grant Thornton to Odenberg Ullakko Munanishi & Co.
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