Denny’s, Deloitte Split: Restaurant operator and franchisor Denny’s Corp. has dismissed auditor Deloitte & Touche and named Big Four rival KPMG as its replacement.
According to a Form 8-K filed with the Securities and Exchange Commission, the company’s audit committee made the decision not to retain Deloitte. The decision was approved by Denny’s board of directors.
Denny’s said that it had no disagreement with Deloitte & Touche on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Denny’s Corp. operates or franchises some 1,700 restaurants.
LaQuinta Dismisses PwC: In a federal filing, lodging and real-estate investment trust LaQuinta said that it planned to terminate its relationship with auditor PricewaterhouseCoopers, and that it would hire Ernst & Young as its successor.
Dallas-based La Quinta said that PricewaterhouseCoopers’ audit reports during 2001 and 2002 didn’t contain any adverse opinions of the company, and reported no disagreements over accounting, financial statement disclosure, or audit scope or procedures.
SBE Taps BDO Seidman: SBE Inc., a San Ramon, Calif.-based manufacturer of telecommunications products, said that it has dismissed independent accountant PricewaterhouseCoopers and hired Chicago-based BDO Seidman as its new auditor.
According to a filing with the Securities and Exchange Commission, PricewaterhouseCooper’s report on the company’s financial statements for 2002 contained a paragraph expressing substantial doubt about SBE’s ability to continue as a going concern.
There were no disagreements between the company and PricewaterhouseCoopers on accounting principles or practices, financial statement disclosure, or auditing scope or procedure, according to the filing.
