By Graham Hayday, 29 May 2002 08:15
NEWS Peregrine Systems has fired KPMG as its auditor after it emerged that some of the software company's recently announced accounting irregularities involved business with KPMG's own consultancy division. Peregrine said earlier this week that around $100m worth of revenues will have to be restated, of which $35m involved KPMG and its consulting arm. Somewhat ironically, KPMG replaced Andersen as the company's auditor in April. Peregrine has dismissed KPMG in a bid to quell any further accusations of conflict of interest within KPMG. The company said in a statement: "Peregrine believes that these transactions compromise the auditor independence requirements mandated by the Securities and Exchange Commission and by Generally Accepted Accounting Principles."
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