Trans Industries (NASDAQ:TRNI)
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From May 2019 to May 2024
Trans-Industries, Inc. Announces Auditors Have Declined to Stand
for Reelection
No Disagreements With Auditors on Accounting Principles or Practices
ROCHESTER HILLS, Mich., May 24 /PRNewswire-FirstCall/ -- Trans-Industries,
Inc. today announced that on May 18, 2004, the Company was advised by
independent auditors, Grant Thornton, LLP, that they have declined to stand for
reelection as the Company's independent auditors. On May 24, 2004,
Trans-Industries received a letter from Grant Thornton confirming that the
client-auditor relationship between Trans-Industries, Inc. and Grant Thornton,
LLP has ceased.
In connection with the audits of the Company's two most recent fiscal years
ended December 31, 2002 and 2003 and for the period January 1, 2004 through
April 30, 2004, the Company had no disagreements with Grant Thornton on any
matter of accounting principle practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Grant Thornton, would have caused them to make reference to the
subject matter of the disagreements in connection with their reports on the
consolidated financial statements of the Company.
Trans-Industries has had a working relationship with Grant Thornton over the
past 10 years since their engagement in 1994 as Trans-Industries independent
auditors. The cessation of the client-auditor relationship between
Trans-Industries and Grant Thornton was not recommended or approved by
Trans-Industries Board of Directors, or by the Audit Committee of Trans-
Industries' Board of Directors.
Trans-Industries' Audit Committee has begun the process of conducting its
search for and interviewing new independent auditors.
About the Company:
The Company is a leading provider of lighting systems and related components to
the mass transit market as well as a supplier of information hardware and
software solutions on Intelligent Transportation Systems (ITS) and mass transit
projects. ITS utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to drivers and
help transportation authorities better manage traffic flow across their
existing infrastructures.
Visit Trans-Industries at http://www.transindustries.com/ .
Website: http://www.transindustries.com
DATASOURCE: Trans-Industries, Inc.
CONTACT: Kai Kosanke, Chief Financial Officer of Trans-Industries,
+1-248-852-1990