Troy, Mich. (Oct. 20, 2003) -- Just over four months after emerging from bankruptcy, Kmart Holding Corp. dismissed auditor PricewaterhouseCoopers and named 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 real estate account reconciliation practices.

Kmart said it identified these items, and amended its annual report for the fiscal year ended Jan. 30, 2002.

-- WebCPA staff

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