I think there are a lot of jealous people when it comes to TAUG. SETH has put TAUG back in a great position to increase shareholder value, through becoming a fully reporting company, swiftly capitalizing on that to launch new products, prosecuting a massive negligence claim alleging punitive damages against a defendant with unlimited resources and putting TAUG in the launch position for a reverse merge or acquisition once the lawsuit is decided. And with a SR Director of Pfizer on the BOA assisting in finding and vetting the perfect fit their is la bright light at the end of this tunnel. Looks like Seth also brought the market cap higher than DECN, which wanted to take control of TAUG while offering what Taug is currently trading at.
What does being a 73-year-old have to do with anything. If anything he should be extremely experienced in SEC matters and PCAOB rules but apparently he wasn't.
There are specific rules in place for independence it is addressed by every single agency and the SEC actually goes so far as to call an audit that lacks independence on lawful.
There are rules in place for continuing to apprise in an attest client of independence preaches.
There are rules in place that explain the communication to the client in terms of possible independence breaches.
There are rules in place for what an audit firm should do if they issue if they previously issued an audit that is later determined to be not independent.
There are rules in place for notify governance of a firm of what actions to take if there is a breach of independence with the attest client
There are rules in place for the transference of an attest clients workpapers to another Audit that Cowan firm in the case of independence breach.
There are rules in place that prohibit the same firm from re-issuing a previous audit if the audit is not independent. You do not need to be a rocket scientist to figure out that the PCAOB would see that as a conflict of interest. What is really funny is according to Cowan's PCAOB attorney, Meyler didn't explain the facts of the case to him correctly.
These rules are all cut and clear.
Anyone can make a false statement that Cowan had 6 auditors that could have done the 2015 audit. EXcept if any of them did it would have been unlawful. I find it odd that the David Morris was set up to be the patsy lead auditor for 2015. He was just hired in 2014. Cowan Gutenski threw his name on as lead auditor for 2015 audit after the PCA OB notified Cowan of a deficiency. Funny how Morris never contacted Taug notified TAUG of his appointment as lead auditor, funny how he never contacted TAUG once about doing the audit and it is funny how Morris never contacted Taug once he resigned as lead auditor and quit Cowan Gutenski even before the censure even came out. He knew enough to get out of Dodge, I guess. But David Moss will have to explain his actions to the Boardvof Accountancy as a complaint is being filed against him.
AI
