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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Kevin G. O'Neill who wrote (1785)	4/3/1999 11:47:00 AM
From: IndioBlues	Read Replies (2) \| Respond to of 3873

Anyone know why LVLT canned PriceWaterhouse...? This is from the April 1 10-K .... "ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE "The following information with regard to the Company's change of independent accountants was first reported by the Company's filing of a Current Report on Form 8-K on September 1, 1998. "The following information is provided in response to the requirements of Item 304(a)(1) of Regulation S-K. i) PricewaterhouseCoopers LLP (formerly Coopers & Lybrand L.L.P. which became PricewaterhouseCoopers LLP on July 1, 1998) was dismissed as the Company's independent accountants effective as of the close of business on August 25, 1998. "ii) The reports of PricewaterhouseCoopers LLP on the consolidated financial statements of the Company at December 27, 1997 and December 28, 1996, and for the three years ended December 27, 1997 contain no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle. "iii) The Company's Audit Committee participated in and approved the decision to change independent accountants. "iv) In connection with its audits for the two most recent fiscal years and through August 25, 1998 there were no disagreements with PricewaterhouseCoopers LLP on any matter of accounting principle or practice, financial statement disclosure, or auditing scope or procedure, which disagreements if not resolved to the satisfaction of PricewaterhouseCoopers LLP, would have caused PricewaterhouseCoopers LLP to make reference thereto in their report on the financial statements for such years. "v) During the two most recent fiscal years and through August 25, 1998 there were no reportable events (as defined in Regulation S-K Item 304(a)(1)(v)). "The following information is provided in response to the requirements of Item 304(a)(2) of Regulation S-K. "The Company engaged Arthur Andersen LLP as its new independent accountants as of August 26, 1998. During the most recent two fiscal years and through August 25, 1998, the Company has not consulted with Arthur Andersen LLP on items which (1) were or should have been subject to an AICPA Statement on Auditing Standards No. 50, "Reports on the Application of Accounting Principles," or (2)concerned the subject matter of a disagreement or reportable event with the Company's former auditor (both as set forth in Regulation S-K Item 304(a)(2))."