PWC Troubles Continue: Compaq Leaves | AccountingWEB

PWC Troubles Continue: Compaq Leaves

Texas-based Compaq Computers has left auditor PricewaterhouseCoopers, and have gone with Ernst & Young, although Compaq reports there never were any problems in having PWC as its auditor.

Compaq reportedly was asked by the Securities and Exchange Commission to change auditors, based on the ongoing investigation of independence issues within the halls of PWC.

While the SEC requested the change, Compaq's board of directors also decided to change auditors based on what the company refers to as "the principle of independence."

There is no indication at this time that other companies will be forced or voluntarily decide to change firms.

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