InvestorsHub Logo
Followers 0
Posts 9515
Boards Moderated 0
Alias Born 08/18/2014

Re: goinsouth post# 249202

Thursday, 11/13/2014 1:23:53 PM

Thursday, November 13, 2014 1:23:53 PM

Post# of 380516
NTEK said they would have audits done for 2013 and 2014. They do not need to go back to the beginning of the companies existence. That is ridiculous!

The auditor has to have an audited point to start from. Not a piece of paper coming from the company saying "Our numbers were X, Y and Z as of Dec 31, 2013. Audit us from there." That is not how an independent audit works. If the auditor is new they will either have to start from an existing certified independent audit performed sometime in the past or start from scratch at the inception of the shell and/or company.

This isn't debatable. Anything else would not be considered independent.