Borland Makes Change in Auditing Survey
Borland Software Corp. on Thursday announced that it has adopted a new policy banning outside auditors from performing non-financial consulting services for the company.
For Borland, this means that PricewaterhouseCoopers LLC, the current auditor for the software development tools maker, can only perform financial consulting services for the company.
Borlands move comes as more companies, including technology companies such as Apple Computer Inc., adopt similar guidelines in the wake of the Enron Corp. scandal.
Borland CFO Frederick Ball said in a statement the companys policy change "is in no way a reflection on our current auditor but rather to address the growing public sentiment against companies using their auditors for certain types of consulting services."
Borland officials said the Scotts Valley, Calif., company will continue to use PricewaterhouseCoopers to perform financial consulting in such areas as audits of statutory filings of foreign subsidiaries, acquisition due diligence, 401-K plan audits, reviews of SEC filings and registrations and tax compliance and planning.