CHANTILLY, Va. – Online Resources Corp. reported Friday its auditor, Ernst & Young LLP, had resigned as the company’s accountants because of disagreements on the company’s accounting for certain transactions, including last year’s acquisition of Princeton eCom. Online Resources said it needed to correct certain errors related to the $180 million deal and the integration of Princeton eCom’s accounting systems and processes. In particular, Online Resources concluded it had not properly accounted for convertible shares is issued in conjunction for the deal, and there was also questions about the valuation of certain assets.
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