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More on Squar Milner
 
More on Squar Milner [ Company -> Update ]
Posted by King of Creation Wed 23 Mar 2005, 2:11 PM
More info on Company: Interplay
Since it's a slow news day, here's the real reason why Squar, Milner, Reehel & Williamson LLP, Interplay's former accounting firm, jumped ship, as revealed by a March 16th SEC filing.
MATERIAL WEAKNESS - LACK OF SUFFICIENT ACCOUNTING DEPARTMENT PERSONNEL

We noted that the Company began losing most of its personnel beginning in June 2004 through layoffs and resignations. Well before September 30, 2004, substantially all accounting department personnel, except for the controller, had departed the Company. Additionally, most other Company personnel that the Company's accounting department interacts with to provide information necessary to produce timely and accurate financial statements had also departed the Company well before September 30, 2004. While we were able to overcome this internal control deficiency in order to complete our interim review, we believe that this internal control deficiency rises to the level of a material weakness in the financial reporting process for the Company.
So basically, they left because everyone else was already gone and it seemed like the cool thing to do. You can read the whole filing here.
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