Hewlett-Packard drops PwC as auditor

In a statement to the press on Friday, HP announced that Ernst & Young would act as independent public accountants for HP’s consolidated financial statements for the year ending 31 October 2000. last week revealed that PwC is set to make a formal announcement next month that it has agreed to sell its consultancy wing to HP.

In a move expected if a successful sale were to take place, PwC discontinued all audit work on 12 September 2000. According to HP, the decision was made because of concerns over the timing of the completion of the audit and the potential loss of PwC’s independence.

HP was keen to stress that there were no disagreements with PwC regarding accounting principles or its audited financial statements.


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HP Press statement

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PwC website

HP website

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