Paragon Dismisses BP As Auditor: The board of Paragon Financial Corp., a Ponte Vedra, Fla.-based home mortgage originator, dismissed BP Professional Group as its independent accountant on Aug. 26, according to a Form 8-K filed with the Securities and Exchange Commission.
At the time of the filing, a successor had not been named.
Paragon said that BP Professional Group’s report on its financial statements for 2002 and 2001 contained no adverse opinions - however, BP did doubt its ability “to continue as a going concern.”
Oneida Jettisons PwC: Oneida Financial Corp., a holding company for Oneida Savings Bank, has dismissed Big Four firm PricewaterhouseCoopers as its independent auditor, and hired Crowe Chizek as its replacement, according to a filing with the SEC. Oneida and PwC did not report any disagreements on accounting matters.
Cousins Properties Taps E&Y: Cousins Properties Inc., an Atlanta-based real estate investment trust, appointed Big Four firm Ernst & Young as its internal auditor, prompting E&Y to resign as auditor of Cousins’ joint venture with Bank of America Plaza.
In a filing with the SEC, Cousins said that Ernst & Young could no longer maintain its independence if it remained as auditor for CSC Associates, the joint venture with Bank of America that developed a 55-story office tower in Atlanta.
Big Four firm Deloitte & Touche has been named as auditor to that venture.
Cousins said that it hired E&Y to perform services related to compliance with Section 404 of the Sarbanes-Oxley Act, which requires an independent auditor to attest to a client’s management assessment of effective internal controls and financial reporting.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access