Concur Tech dismisses Deloitte & Touche |
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Published
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Fri, 12 Jan 2007 18:13
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NEW YORK (AFX) - Concur Technologies Inc. has dismissed Deloitte & Touche LLP as its auditor and replaced the accounting firm with Grant Thornton LLP.In a filing with the Securities and Exchange Commission Thursday, Redmond, Wash.-based Concur said D&T was dismissed Jan. 8 by the company's audit committee. No reason was provided for the action.Concur provides business services and software that automate corporate travel and cost management items.Concur said Deloitte & Touche audit reports for the years ended Sept. 30, 2006 and 2005 did not contain any adverse opinions, although D&T's audit report on the effectiveness of internal controls over financial reporting as of Sept. 30, 2006 contained an adverse opinion because of a material weakness related to a deficiency in the controls over changes in accounting principles.Concur said it twice disagreed with Deloitte & Touche in connection with the 2006 audit over the timing of the company's initial release of a deferred tax valuation allowance, and over the initial Outtask intangible assets valuation analysis, but both of those items were satisfactorily resolved.Shares of Concur dipped 7 cents to $16 in morning trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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