UHY Clients
Fedders Corporation
28th February, 2007
Fedders CorporationFedders Corporation is a leading global manufacturer of air treatment products for residential, commercial and industrial use – air conditioning units, furnaces, dehumidifiers and other air quality products.
The company’s global headquarters are in New Jersey, the US, with other manufacturing and distribution locations in the US and in China, Germany, India, the Philippines and the UK. In 2005 the company’s net sales were 297.7m USD.
When Fedders’ CFO wanted to replace its Big Four audit firm he had a list of criteria which included: offices near to its distribution centre in St Louis, the US, and PCAOB-accredited offices in its major global locations.
UHY LLP in the US ticked all the boxes on the wish-list and offered Fedders the language capabilities and international audit experience that a large, well-established accountancy organisation can offer.
For the year ended 2005 UHY audited accounts for Fedders in the US, China, Germany, Hong Kong, India and the Philippines.
“The audit work included the integrated audit process required by Sarbanes-Oxley and our opinion on internal controls that accelerated filers are required to complete,� says UHY Board member John Wolfgang, who led the contract team of more than 30 over six countries.
“The UHY network and its member firms around the world was one of the most crucial factors in the company’s decision.�
Fedders is the largest public client of UHY LLP, based on firm revenues, and UHY LLP has been retained to audit the company’s 2006 accounts. The UHY team will also be reviewing quarterly financial statements and local UHY offices will conduct statutory audits for Fedders’ subsidiaries in Europe and Asia and for joint ventures.
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