Argus Corporation Limited Announces Change of Auditors.Business Editors TORONTO--(BUSINESS WIRE)--June 1, 2004 Argus Corporation Argus Corporation, based in Toronto, Ontario, is an investment and holding company founded in 1945 by its President E. P. Taylor with minority partners Colonel W. Eric Phillips and Wallace McCutcheon and other investors. Limited ("Argus") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AR.PR.A) (TSX:AR.PR.D) (TSX:AR.PR.B) has announced that Zeifman and Company LLP LLP - Lower Layer Protocol have been appointed as the auditors of Argus effective today. Zeifman and Company are also the auditors of Argus' subsidiary Hollinger Inc. Argus has accepted the resignation of its former auditors PricewaterhouseCoopers LLP, also effective today. Effective January 1, 2004, Argus will consolidate its investment in Hollinger Inc. in its financial statements in accordance with generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . Such change in accounting policy, with which both PricewaterhouseCoopers and Zeifman and Company concur, mandates the change in auditors. The relationship between PricewaterhouseCoopers and Argus has been very positive over the years and they have advised that they have resigned with regret. |
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