Portfolio Recovery Associates Switches Accounting Firms

Debt purchaser Portfolio Recovery Associates (Nasdaq: PRAA) said in an SEC filing Tuesday that they are switching independent registered public accounting firms.

In a Form 8-K filing, the company said that it has dismissed PricewaterhouseCoopers (PwC) as its accountant of record and has appointed KPMG as its independent registered public accounting firm, effective immediately.

The company said in the filing, “There were no disagreements with PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during the fiscal years ended December 31, 2005 and 2006.”

PwC, in an attached letter to the SEC, agreed with the statements made by Portfolio Recover Associates concerning the nature of the relationship.