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Sources reported that EchoStar has rid itself of Arthur Andersen as its independent auditor and hired KPMG as its replacement.

The move followed the company's decision to seek proposals from independent auditors to audit its financial statements for the fiscal year ending Dec. 31 , a filing with the Securities and Exchange Commission said.

For 2001, Andersen billed EchoStar roughly $225,000 for auditing its annual financial statements and reviewing its quarterly statements, a filing said. Andersen also billed EchoStar $271,000 in audit-related fees and about $132,000 in other fees. Audit-related fees were for some of the company's 2001 securities offerings, acquisition due diligence and accounting consultation.

From SkyReport (Used with Permission)
 
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