Florham Park, N.J. (May 4, 2004) – Following Friday’s announcement that Global Crossing’s auditor, Grant Thornton, was withdrawing its audit reports, the telecommunications company’s audit committee retained both Deloitte & Touche and GT to look into its accounting – all while facing a notice from the Nasdaq threatening the de-listing of its stock.
While Deloitte & Touche will conduct an independent review of the company’s cost of access liabilities and cost of access expenses, as well as the related internal control environment, the audit committee has asked Grant Thornton to examine Global Crossing’s procedures to determine whether it can reissue its withdrawn audits.
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