BDO Replaces PricewaterhouseCoopers As Pearl River Resort’s Auditor
Pearl River Resort has chosen its new independent auditor BDO after PricewaterhouseCoopers‘s stint as the company’s auditor ended.
Pearl River said it would not make any changes to its top priorities, namely external review, oversight of business and financial activities.
BDO will be providing outside review of the resort’s business and financial activities, Pearl River Resort and Casino has announced. No reason was provided as to why PricewaterhouseCoopers did not renew its contract with the company, and vice versa.
But normally, corporations and businesses change external auditors approximately every three years.
The report, nevertheless, may sound good to the Office of Fair Trading (OFT), which has warned the Big Four audit firms – Deloitte, PricewaterhouseCoopers, KPMG, and Ernst & Young – of an imminent investigation to be conducted by the Competition Commission in light of questions hurled against their alleged market dominance.
Likewise, RSM International, BDO, Mazars and Grant Thornton previously issued a joint statement expressing their nod on the European Commission’s plan to revamp the audit industry which is currently dominated by the Big Four.
BDO USA, a decades-old professional services firm, has been in the business of providing tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. It will assume the external auditing duties left behind by PricewaterhouseCoopers, which had been providing those duties for Pearl River Resort and Casino for more than ten years.
Pearl River said “external oversight and review of the resort’s business and financial activities has always been a top priority in ensuring an unbiased and independent audit, and in assuring that the resort’s gaming operations and associated business management continue to operate with the utmost integrity.”