PEGA - Pegasystems Message Board

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Technology Stocks : PEGA - Pegasystems

PEGA 61.03

-3.1%

Nov 4 3:59 PM EST

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To: seth thomas who wrote (390)	4/3/1998 11:04:00 AM
From: Clam Clam	Read Replies (1) of 504

A likely scenario is that the Coopers A-team was not on the PEGA account but when these issues came to the surface last summer, more senior Coopers people looked in. Coopers then probably confronted PEGA with the issues and finally did a little diligence on the contracts. Then they got fired for whatever they told PEGA they should be doing. Funny how Coopers gets hundreds of thousands of dollars from PEGA in audit fees annually and decides to give that up but PEGA obviously thought it knew more about accounting than Coopers. After yesterday's restatement of each quarter of 1997, Arthur Andersen (new auditors) obviously didn't agree with PEGA either. I guess PEGA realized that maybe they don't know more than 2 of the Big Six accounting firms.

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