NEW YORK — Following the news last month that KPMG LLP had resigned as its independent accountants, Standard Motor Products announced yesterday that it has already found a new replacement.
Standard Motor Products’ Board of Directors has engaged Grant Thornton LLP as the company’s new independent registered public accounting firm, effective immediately, for its fiscal year ending Dec. 31.
In its announcement, James Burke, Standard Motor Products’ CFO commented: “As we have previously stated, KPMG’s resignation was not the result of any disagreement between the company and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures. In addition, KPMG’s resignation does not in any way affect the reliability of our audited financial statements.
“The decision to engage Grant Thornton as the company’s independent accountants comes after careful consideration conducted by the company’s Audit Committee. The Audit Committee considered many factors, including the experience of Grant Thornton, the resources of Grant Thornton to serve the company and the company’s auditing needs.”
_______________________________________
Click here to view the rest of today’s headlines.
