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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Salah Mohamed who wrote (78847)	2/28/2000 7:35:00 PM
From: Elwood P. Dowd	Respond to of 97611

Pricewaterhouse says reliability not questioned NEW YORK, Feb 28 (Reuters) - PricewaterhouseCoopers said on Monday no one has questioned the reliability of its clients' financial statements and said media reports suggesting otherwise were wrong. Earlier Monday, the Wall Street Journal reported the Securities and Exchange Commission notified 52 companies audited by PricewaterhouseCoopers that conflicts of interest originating from personal investments of the firm's employees could affect the integrity of their financial statements. ``PricewaterhouseCoopers has been dealing closely and continuously with the SEC and at no time has the Commission suggested that the integrity of the financial statements of any of the clients is in questions,' the company said in a statement. The SEC suggested some of the 52 companies replace PricewaterhouseCoopers as auditor of the year-2000 financial statements, the Journal cited sources familiar with the situation as saying. PricewaterhouseCoopers said the SEC had asked Compaq Computer Corp. (NYSE:CPQ - news) to change auditors for its 2000 fiscal year, however the company is completing Compaq's 1999 audit and prior years were not required to be re-audited. In early January, a 127-page report done for the SEC said nearly half of the partners at PricewaterhouseCoopers LLP admitted violating rules that prohibit auditors from owning stocks in companies whose books they examine. More Quotes and News: Compaq Computer Corp (NYSE:CPQ - news) Related News Categories: US Market News Help Copyright ¸ 2000 Yahoo! All Rights Res