Big4 Auditor Changes week ending 09 Nov 2014

PwC declined to stand for reappointment on the ITT Educational Services 12/31/14 audit. ITT must have had some idea this was coming because, “In July 2014, in the event that PWC ceased to be the Company’s independent registered public accounting firm, the Audit Committee of the Board of Directors of the Company commenced a comprehensive, competitive process to select an independent registered public accounting firm.” Talk about prescience. ITT is still working on choosing a new auditor.

Community West Bancshares also put their audit out to bid. They moved a bit faster than ITT, already choosing new auditor McGladrey to replace EY.

Filing Date Company Location Old Auditor New Auditor Dismissal / Resignation
11/4/2014 ITT Educational Services, Inc. IN Pricewaterhouse Coopers LLP Decline To Stand
11/5/2014 Community West Bancshares CA Ernst & Young LLP McGladrey LLP Dismissal

Before wrapping up, a big Auditor Carousel thank you to all veterans. Thank you for your service.

You can follow the Big4 Auditor Carousel on Twitter, @auditorcarousel, or simply by clicking the “Follow” button to the right.

Round and round and round…

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