Business Services Industry
Oklahoma City Music Retailer CD Warehouse Switches Auditors.
Knight Ridder/Tribune Business News, May, 2002
By Melissa Davis, The Daily Oklahoman Knight Ridder/Tribune Business News
May 16--CD Warehouse Inc. disclosed Tuesday that it has replaced its independent auditor and two of its directors.
The Oklahoma City music retailer -- plagued in recent months by a failed buyout and mounting litigation -- informed the Securities and Exchange Commission on Tuesday that it has terminated its relationship with Ernst & Young. The company said it has no accounting disagreements with Ernst & Young, which issued clean opinions of CD Warehouse's financial statements in 2000 and 2001, but is replacing the Big 5 accounting firm as a cost-cutting measure.
CD Warehouse has hired the local firm of Steakley Gilbert & Morgan to replace Ernst & Young.
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