E&Y quits as auditor at Irish software group
Auditor claims company incorrectly stated its financial position.
Ernst & Young has resigned as auditor to a number of subsidiaries of
Riverdeep – the Irish educational
software company, a report from the Irish
Independent has said.
The paper said that Riverdeep has confirmed the resignation of its auditor
and also confirmed that it has made an adjustment to its accounts for the first
nine months of 2006.
The firm informed Riverdeep of its intention to resign as auditor in a letter
dated January 31, 2007, a copy of which was seen by the Irish
Independent.
In a statement yesterday, Riverdeep described the adjustment it made to its
accounts as ‘immaterial’.
Ernst & Young has been associated with Riverdeep for most of its history.
It was replaced by rival KPMG in 2003, but was reappointed as auditor in 2004
and audited both the 2004 and 2005 accounts.
Further reading:
New banking partner added to E&Y team
E&Y ‘nabs’ former Barclays’ crime director
E&Y graduates get taste of working life