Ventura Entertainment Severs Auditor Contract

Ventura Entertainment Group Ltd., a Burbank film and television production company, said it terminated its independent auditor Coopers & Lybrand because it didn’t believe the accounting firm provided it with “sufficient and timely advice.”

Ventura Entertainment said it disagreed with auditors over the calculation of a gain in a recent transaction, and it intends to review the method used by Coopers & Lybrand when it hires a new auditing firm. However, Ventura Entertainment said the disagreement was not the reason it terminated Coopers & Lybrand.

It also said the decision to end its relationship with the accounting firm would have no effect on its partially owned subsidiary Harmony Holdings Ltd., a television commercial producer. Harmony will continue to use Coopers & Lybrand’s services.