In a third case, the SEC is charging Edward Horton, a managing partner at Horton & Co., for independence violations, as well as material misstatements related to valuing options.
As for Ohlhauser? He left MacKay & Partners on May 31 to take another job with a dot-com company, says MacKay. "It had nothing to do with the Solucorp issue," he adds.
And what about MacKay & Partners? "We have resigned as auditors from Solucorp," notes MacKay. "With Glenn absent, we did not feel that we had sufficient expertise to carry on."
Aside from its approximate 25 public company clients, the firm also decided that it will "no longer do audits for SEC registrants."
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