PwC Says ‘No Thanks’ to Paxson: Big Four firm PricewaterhouseCoopers has declined to stand for re-election as the auditor to Paxson Communications Corp., which named Big Four competitor Ernst & Young as it new independent accountant. Paxson requested proposals from Big Four accounting firms several months ago to decide which firm should audit the company’s books for 2003.
PricewaterhouseCoopers informed Paxson on April 4 that it wouldn’t stand for re-election, according to a Securities and Exchange Commission filing. The filing did not give a reason for PwC declining to bid for the business.
Paxson said that there weren’t any disagreements with PwC.
Deloitte Declines Reappointment: New Horizons Worldwide inc., an operator and franchisor of computer training centers, said that auditor Deloitte & Touche would not apply to be re-appointed as its auditor. A successor has not been named.
In an 8-K filing, New Horizons said that there were no disagreements with Deloitte on accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
ConnectivCorp’s Auditor Resigns: Medical communications network concern ConnectivCorp. said that its auditor, Patrusky Mintz & Semel, resigned as independent accountant after the firm expressed doubt regarding the company’s ability to continue as a “going concern.”
Patrusky Mintz & Semel, which resigned in April, expressed the going concern doubt in its report on the company’s financial statements for fiscal 2001. It cited recurring losses from operations.
Niagara Corp. Appoints D&T: Specialty metal producer Niagara Corp. named Deloitte & Touche as its auditor, succeeding BDO Seidman, which resigned last month.
According to a filing with the Securities and Exchange Commission, there were no disagreements between Niagara and BDO Seidman during the previous two fiscal years, which ended Dec. 31, 2002.
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