On4 Communications Inc (ONCI)

[QTRADERQ]

As a CPA, here's a list of deficiencies of the engagement letter ONCI posted on Twitter last week. Draw your own conclusions. Mine are it's a fake engagement letter. JMO

pic.twitter.com/FLZapESHsn

— On4 Communications (@on4company) November 24, 2017

Deficiency's of the Engagement Letter
1.The date of the engagement letter was crossed out. Why?

2. There's a second cross out. What did they not want us to see?

3.The second paragraph of the engagement letter which describes the "Scope of Engagement" was omitted. Why? Now we don't know if Mazars USA was hired to conduct an Audit, Review or Compilation of the financial statements.

4. Already discussed but worth repeating. Mazars logo is crooked. Not just a little, but a lot. (I could just imagine Mazars clients laughing every time they received correspondence from the firm if it was legit.)

Below are samples of engagement letters for an Audit, Review and Compilation. Notice they all start out the same ...

"We are pleased to confirm our understanding of the engagement to provide services for {client}"

... but the next paragraph paragraph which was omitted is different )see below). That because Audits, Reviews, and Compilations are different levels of service provided by a CPA firm.. Audits are obviously much more expensive and time consuming.

It's interesting to note --- before ONCI posted the engagement letter, I had no doubt about the commencement of the audit for fiscal year ended 10/31/17. Now, after seeing what was tweeted, I have serious doubt concerning the authenticity of the engagement letter. ALL IMHO







http://www.accountingweb.com/sites/default/files/Guided%20Tour%20of%20Engagement%20Letters%2003012013.pdf