San Diego (May 7, 2002) -- After KPMG, the firm that succeeded Andersen as auditor to software manufacturer Peregrine Systems Inc. raised questions regarding the booking of roughly $100 million in revenue, the company, based here, has launched an internal probe of its accounting.
KPMG replaced Andersen as auditor to the company in April. Peregrine said the change was enacted due to questions about Andersen’s ongoing viability as a firm and not connected with any accounting discrepancies.
Peregrine said as much as $100 million recorded as revenue in fiscal 2001 and 2002 has been called into question in the probe. The company said it notified the Securities and Exchange Commission regarding the probe.
In addition to questions surrounding its accounting, both Peregrine’s chief executive and chief financial officer have left the company.
-- Electronic Accountant Newswire staff
