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E&Y replaces KPMG as Apple's auditor

Ernst & Young has been hired to replace KPMG as auditor of Apple, the computer manufacturer. KPMG had been the company's independent registered accounting firm since 1997, CNNMoney.com reports, but Apple has a policy of reviewing its accounting firm every five years. E&Y, which was hired last Thursday, will be Apple's auditor for the end of the fiscal year to 26 September. In a letter filed with the Securities and Exchange Commission, KPMG said it was 'not in a position to agree or disagree with Apple Inc's statementsregarding the audit committee's decision to engage Ernst & Young'. The filing also said that the auditor change didn't occur due to any disagreements between Apple and KPMG on any matter of its accounting principles or practices.
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