Keeping up that time-hallowed auditing tradition of locking the stable door after the horse has not only bolted, but has been turned into catsmeat and eaten, KPMG Peat Marwick has withdrawn its report on the finacial statements of Guntersville, Alabama-based contract computer manufacturer Comptronix Corp, where directors have admitted inflating the profits, for the three year period to December 31 1991; the company has terminated its proposal to reincorporate in Alabama, but its bank lenders have agreed to continue lending under its $20m working capital facility – it has been in violation of provisions of its loan agreements; Anderson & Co will work with a special company committee in an investigation.
