Last year American Apparel opted to drop Marcum as their auditor for Deloitte. Just one year later, the firm has had enough and resigned, citing possibly unreliable financial statements for 2009.

The defining issue is stated in the company’s 8-K – here are the details for those you that enjoy that sort of thing:

SEC: During the period from April 3, 2009 through July 22, 2010, there were no “reportable events” except that (i) in Deloitte’s report dated March 31, 2010 (which was included in the 2009 Form 10-K) on the Company’s internal control over financial reporting as of December 31, 2009, Deloitte identified material weaknesses in internal control over financial reporting related to the control environment and to the financial closing and reporting process, which are further described under Item 9A in the Company’s 2009 Form 10-K, and advised that the Company has not maintained effective internal control over financial reporting as of December 31, 2009; and (ii) Deloitte advised the Company that certain information has come to Deloitte’s attention, that if further investigated may materially impact the reliability of either its previously issued audit report or the underlying consolidated financial statements for the year ended December 31, 2009 included in the Company’s 2009 Form 10-K. Deloitte has requested that the Company provide Deloitte with the additional information Deloitte believes is necessary to review before the Company and Deloitte can reach any conclusions as to the reliability of the previously issued consolidated financial statements for the year ended December 31, 2009 and auditors’ report thereon.

More>

All jolly exciting. Now here’s the interesting bit. For those of you not familiar with the brand, as you can see from the pic, American Apparel favours a rather saucy form of advertising – some of which has even been deemed OTT for UK palates. This is reputedly down to the pervy tastes marketing genius of its founder Dov Charney who likes to see a home-made-porn quality to them – which he helps ensure by occasionally doing the shoots himself.