American Home Shield 2008 Annual Report Download - page 132
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Table of Contents
substantive involvement with any significant accounting or financial reporting positions or the audit scope and related findings;
a report, dated October 21, 2008, issued by Deloitte to the Audit Committee reaffirming Deloitte's independence per the requirements of the
Independence Standards Board's Standard No. 1; and
Deloitte's representation that it has in place a quality control system that meets the requirements of the SEC and the Public Company Accounting
Oversight Board, and provides reasonable assurance that the accounting firm and its employees do not lack independence.
The Audit Committee and Deloitte separately reported their conclusions to the SEC Staff.
Subsequent to the completion of the Audit Committee's review, ServiceMaster received a subpoena for the production of documents in a formal
investigation by the SEC. The formal investigation concerns trading activities of the former advisory partner in securities of ServiceMaster and other Deloitte
audit clients, auditor independence issues implicated by such activities, and whether the former advisory partner's trading activities affected Deloitte's
independence in certifying the financial statements of the affected Deloitte clients and, thereby, the compliance of those clients' annual reports with applicable
securities laws. Both Deloitte and ServiceMaster continue to believe that actions of the former advisory partner did not impair Deloitte's impartiality or
objectivity or that of the engagement team that conducted ServiceMaster's audits. ServiceMaster is cooperating with the SEC's investigation.
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