Business Services Industry
Audit Firm Quits San Diego's Maxwell Technologies.
Knight Ridder/Tribune Business News, March, 2004
By Bruce V. Bigelow, The San Diego Union-Tribune Knight Ridder/Tribune Business News
Mar. 31--San Diego's Maxwell Technologies said yesterday that Deloitte & Touche resigned as its independent auditing firm, taking the company and its board by surprise.
The resignation came after the accounting firm, which was hired a year ago, completed its work on Maxwell's 2003 financial statement and endorsed the annual report with no disclaimer or adverse opinion.
Maxwell filed the financial statement yesterday with federal regulators after revising the report to disclose Deloitte's resignation, said Michael Sund, a Maxwell spokesman. The company makes energy storage devices.
In a separate disclosure statement, also filed yesterday, chief...
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