Big4 Auditor Changes week ending 16 Nov 2014

Big news this week is the PwC resignation as Logitech auditor. According to the filing, PwC determined the firm was not independent after providing $100 thousand of consulting services. Audit fees paid were in excess of $7 million, so fairly costly.

In the case of Sealed Air Corporation and Hungington Bancshares, the current auditor was dismissed, but not until the 12/31 audit is complete. I’ve got to imagine the service level drops with a knowledge that you’ve already been fired. Let’s hope audit quality is not similarly diminished.

Here’s the full list:

Filing Date Company Location Old Auditor New Auditor Dismissal / Resignation
11/13/2014 Logitech International S.A. CA Pricewaterhouse Coopers LLP KPMG LLP Resignation
11/13/2014 Foster Wheeler AG United Kingdom Pricewaterhouse Coopers LLP Ernst & Young LLP Dismissal
11/14/2014 Sealed Air Corporation NJ KPMG LLP Ernst & Young LLP Dismissal
11/14/2014 Huntington Bancshares Incorporated OH Deloitte & Touche LLP Pricewaterhouse Coopers LLP Dismissal
11/14/2014 Paratek Pharmaceuticals, Inc. MA Ernst & Young LLP Dismissal

Whether you visit the site for auditor change or audit fee information, we hope you find what you’re looking for. Thanks for stopping by. Keep up with the most current news by following us on Twitter @auditorcarousel.

Round and round and round…

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