Sands parts ways with its current audit firm

Las Vegas Sands made a huge decision by parting ways with the auditing firm, which has been providing services to the company for a longtime. However, analysts believe that investors should not make a lot of speculations beyond this announcement.

During the filing with the US Securities & Exchange Commission, the Las Vegas Sands declared that their current audit firm, Pricewaterhouse Coopers had resigned from the position of its auditor. Officials said that the decision has not come out of any reportable disagreement.

John Kempf, gaming analyst from the RBC Capital Markets, said that the disclosure made by the company of some violations without informing their auditing firm had led to creating difference between both of them.

Kempf said, “While this resignation by Pricewaterhouse Coopers from the Sands’ auditor position raises a lot of eyebrows in the market, we believe that it is mainly due to a personal disagreement between the two companies and nothing else. We feel that Pricewaterhouse Coopers are resigning without accusing the Sands of violating practices or laws of any sort. This confirms our opinion that investors should not panic with this news.”

Tweet