Embattled broadband Internet service provider ExciteAtHome Wednesday filed papers saying it has fired its accounting firm: Ernst & Young LLP.
Ernst & Young, which audited ExciteAtHome’s books in 1999 and 2000, was notified on August 15 about the dismissal.
In the company’s latest 10-K filing with the Securities and Exchange Commission (SEC), the accounting firm recently raised concerns and substantial doubt about ExciteAtHome’s ability to continue as a company.
The way ExciteAtHome sees it, “it’s not personal… it’s strictly business.”
“We have had no disagreements with Ernst & Young LLP on any matter of accounting principles or practices,” says ExciteAtHome in the filing.
Replacing Ernst & Young as the company’s independent auditor is PricewaterhouseCoopers.
The Redwood City, Calif.-based company says the decision was approved by its Audit Committee, Board of Directors and its stockholders.
The latest news fuels even more fire to speculation that the company is on its last legs.
Ernst & Young still has a chance to dispute the dismissal with a letter to the SEC.
ExciteAtHome says it has not made contact with PricewaterhouseCoopers prior to August 15. The company is expected to conduct additional audits with its new firm and may even file revised SEC papers.
