Deloitte resigns as Universal Insurance auditor: Big Four firm Deloitte & Touche resigned as Universal Insurance Holdings Inc.’s auditor effective Sept. 30 after it had informed Universal of a material weakness in the company’s internal controls, according to an 8-K report.
In 2001, Deloitte told Universal that a "material weakness" existed in the design and operation of the company’s internal controls as it related to claims payment processing.
According to the filing Deloitte and Universal did not have any disagreements on any accounting matters for fiscal 2001 and through Sept. 30 of this year.
PwC raises doubt about MKTG SERVICES survival: PricewaterhouseCoopers, auditor for MKTG Services Inc., said it has "substantial doubt" about the company’s ability to "continue as a going concern."
According to an SEC filing, PwC said that MKTG Services has "limited capital resources and has incurred significant recurring losses and negative cash flows from operations."
MKTG said it doesn’t think its cash on hand and existing sources of cash are sufficient to fund its cash needs over the next year under the current capital structure. It revealed that it is in talks with outside parties to restructure or refinance.
Separately, PwC was named auditor for Los Angeles-based Asia Global Crossing Ltd., a provider of city-to-city connectivity and data communications solutions, succeeding Andersen.
Asia Global said it didn’t have any disagreements with Arthur Andersen. Andersen’s SEC practice ended Aug. 31, as a result of its June 15 conviction on obstruction of justice charges.
Form 8-K Filings
A.B. Watley Group Inc. (New York), from Ernst & Young to Israeloff, Trattner & Co.
American Vantage Cos. (Las Vegas), from Bradshaw, Smith & Co. to Piercy Bowler Taylor & Kern.
Clean Water Technologies Inc. (Tarpon Springs, Fla.), from Acquavella, Chiarelli & Shuster & Co. to Baumann, Raymondo & Co.
Dstage.com Inc. (Denver), from Gordon, Hughes & Banks to Ehrhardt Keefe Steiner & Hottman.
ebank.com Inc. (Atlanta), from Mauldin & Jenkins to Porter Keadle Moore.
Famous Dave’s of America Inc. (Eden Prairie, Minn.), from Virchow, Krause & Co. to Grant Thornton.
Fonar Corp. (Melville, N.Y.), from Grassi & Co. to Marcum & Kliegman.
Frozen Food Express Industries Inc. (Dallas), from Andersen to KPMG.
Future Fund (Chicago), from Ernst & Young to Pricewaterhouse-Coopers.
GlobeTrac Inc. (London), from Quintanilla Accountancy Corp. to Hall & Co.
Guitron International Inc. (Calgary, Alberta), from Pinkham & Pinkham to Miller & McCollom.
HeavenExpress.Com Inc. (Pompano Beach, Fla.), from Dohan and Co. to Bongiovanni & Assoc.
ITIS Holdings (Houston), from Harper & Pearson Co. to Fitts, Roberts & Co.
Janel World Trade Ltd. (Jamaica, N.Y.), from Michael L. Stuck to Paritz & Co.
Med Diversified Inc. (Andover, Maine), from KPMG to Brown & Brown.
MedSolutions Inc. (Dallas), from Grassi & Co. to Marcum & Kliegman.
Music Etc. Inc. (Las Vegas), from Kurt D. Saliger, CPA to James R. Bonzo, CPA.
Ocean Resources Inc. (San Diego), from Weinberg & Co. to Kempisty & Co.
Orthometrix Inc. (White Plains, N.Y.), from Imowitz Koenig & Co. to Radin, Glass & Co.
Precom Technology Inc. (Boca Raton, Fla.), from Moffitt & Co. to Farber & Hass.
Retail Highway.com Inc. (Toronto), from Citrin, Cooperman & Co. to Stark Winter Schenkein & Co.
Softstone Inc. (Pottsboro, Texas), from Hogan & Slovacek to Kabani & Co.
Statmon Technologies Corp. (Beverly Hills, Calif.), from Michael Johnson & Co. to Grassi & Co.
Ventures-National Inc. (Santa Clara, Calif.), from Mantyla McReynolds to Stonefield Josephson.
Via Net.Works Inc. (Reston, Va.), from PricewaterhouseCoopers to Deloitte & Touche.
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