PracticeAccounting FirmsAdelphia sacks Deloitte in US

Adelphia sacks Deloitte in US

US cable company Adelphia has added to the clouds hanging over the accountancy profession, after announcing it has sacked its auditor Deloitte & Touche.

A US Securities & Exchange Commission filing made by Adelphia gave no explanation for its decision to part with its auditors, although, according to reports, Deloitte were dismissed for ‘inaccuracies in its previous financial statements’.

Adelphia, the US’s sixth biggest cable operator, also filed a 8-K form with the SEC, saying that it is expected to revise ‘material financial information’ for the years ending 31 December 2000 and 2001. In addition, the company will also provide ‘financial guidance for 2002’.

Restated statements for 2001 show profit at $1.2bn (£820m), 15% lower than the previously stated $1.4bn (£950m).

The company has not announced a replacement auditor.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

3m Emma Smith, Managing Editor