KMART CANS PWC, NAMES BDO AS SUCCESSOR: Just four months after emerging from bankruptcy, Kmart Holding Corp. dismissed auditor PricewaterhouseCoopers and named national firm BDO Seidman as its new independent accountant.
A filing with the Securities and Exchange Commission didn’t give a reason for the change. The discount retail giant reported no disagreements with PwC on accounting principles or practices.
However, PwC said that some financial reporting and control risks existed with the company’s real estate account reconciliation practices.
Kmart said that it identified these items, and amended its annual report for the fiscal year ended Jan. 30, 2002.
DREXLER RETAINS KPMG: Drexler Technology Corp., a Mountain View, Calif.-based software concern, hired Big Four firm KPMG to succeed PricewaterhouseCoopers as its auditor.
According to a filing with the Securities and Exchange Commission, there were no disagreements between Drexler and PwC on any matter of accounting.
CHOICE ONE DISMISSES PWC: Choice One Communications Inc., a Rochester, N.Y.-based provider of voice and data telecommunications services, Web development and hosting services to small and midsized businesses, jettisoned Big Four firm PricewaterhouseCoopers as its independent accountant and named rival Deloitte & Touche as its new auditor.
According to a filing with the SEC, there were no disagreements between Choice One and PwC over any accounting-related issues. However, the auditor did express substantial doubt regarding the company’s ability to continue as a going concern in its report on the company’s financials for the year ended Dec. 31.
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