E&Y said there was ‘substantial doubt’ whether or not the access provider and media company could stay in business. The Big Five firm said Excite’s recurring losses, need for additional funding and potential Nasdaq delisting were threatening the business’ survival.
But Excite said today it had not had any disagreements with the accounting firm on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
Excite has now switched auditor to PricewaterhouseCoopers LLP, according to a Form 8K filed with the Securities and Exchange Commission.
Excite also said its decision to part company with E&Y was made some time before Monday.
Excite has been hit by falling revenues following the downturn in the online advertising market.
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Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast