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Memo to CFOs: Apple Voluntarily Switched Auditors and Things Are Just Dandy

Posted on by Caleb Newquist

Ron Fink at CFO Journal reports that CFOs that are breaking out in a rash due to auditor rotation anxiety might be having a knee-jerk hypochondriacal reaction.

You see, the company that the media loves to figuratively fellate, Apple, opted to put their audit business out to bid every five years and not only have costs gone down, “it has reported no problems with its financial results as a result of the change.” So now Apple is also more progressive and transparent with their corporate governance processes than your company. And you don’t have the iPad. [CFO Journal]

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It Appears That Albany International Fired Their CFO Because They Felt Like It

Michael Burke need not worry. David Paterson will be unemployed soon enough.

Albany International (NYSE: AIN) announced on Sept. 23 that it terminated CFO Michael Burke without cause. Burke was also senior vice president at the manufacturing company headquartered in Menands, New York.

Albany International’s board of directors tapped John Cozzolino to serve as acting CFO. Cozzolino is a vice president overseeing strategic planning.

The moves are effective immediately. Albany International would not say why Burke was fired.

“There were absolutely no ethical, legal, accounting or personal issues involved,” said Susan Siegel, a company spokeswoman.

Just a board of directors channeling a little bit of Steinbrenner.

Albany Int’l Corp. CFO terminated [The Business Review]

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Here Are Even More 2024 Accounting Salary Projections

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USANA Health Sciences Hits the Superfecta as President, CFO, COO and EVP of Sales All Bolt

Nothing like this to get your investors a little worked up:

USANA Health Sciences, Inc. […] today announced that Fred W. Cooper, President and Chief Operating Officer; Jeffrey A. Yates, Chief Financial Officer; and Mark H. Wilson, Executive Vice President of Sales have each stepped down from their respective offices to pursue other business endeavors. […] Continuing on the realignment of the executive team, [CEO Dave] Wentz said “I also want to offer Fred, Jeff, and Mark our sincerest appreciation for their years of service to USANA. We wish them well in their future endeavors.”

Of course it could be that these guys had a foursome at Pebble Beach they weren’t about to reschedule OR they knew there was going to be openings at Novartis. Other theories are welcome. PwC’s Salt Lake City office serves as USANA’s auditor so if you’ve got the scoop or heard something interesting, email us.