Wednesday, December 30, 2009

Overstock.com Taps KPMG As Auditor

Salt Lake City-based online retailer Overstock.com has found a new auditor for the firm, after a high profile tiff with its prior auditor, Grant Thornton. According to Overstock.com, it has engaged KPMG as the firm's independent registered public accounting firm of record, for its fiscal year ending December 31, 2009. The appointment of a new auditor comes after a public scuffle between Overstock.com and Grant Thornton over its March 31, 2009 and June 30, 2009 results, which included--among other things--Overstock.com released unaudited results and a scathing letter over findings by Grant Thornton, and a complaint to the SEC by Grant Thornton. Overstock said that KPMG will conduct an integrated audit of the company's 2009 financial statements, including review of the company's quarterly information for the periods ending March 31, 2009, June 30, 2009 and September 30, 2009.