Following a tumultuous relationship in recent years, highlighted by an accounting scandal, Nortel has turfed Deloitte & Touche as its auditor, although the decision “does not result from any disagreement or dissatisfaction”. Nortel’s new auditor is KPMG. Deloitte’s departure comes after it played a key role in fixing Nortel’s financial books that involved a multiple restatements. Of course, Deloitte was well handsomely for its services – picking up $72.7-million in fees in 2003 and $57-million in 2004.
Nortel Boots Deloitte & Touche
Following a tumultuous relationship in recent years, highlighted by an accounting scandal, Nortel has turfed Deloitte & Touche as its auditor, although the decision “does not result from any disagreement or dissatisfaction”. Nortel’s new auditor is KPMG. Deloitte’s departure comes after it played a key role in fixing Nortel’s financial books that involved a multiple restatements. Of course, Deloitte was well handsomely for its services – picking up $72.7-million in fees in 2003 and $57-million in 2004.
Technorati Tags: Nortel, puppy