United Development Funding IV fka UDFI

[56Chevy]

Because of the nature of their business auditing firms do have an ass covering instrument aka the engagement letter.

In your opinion would that not have been sufficient to have started the audit process long before now?

Im just thinking if auditors in general stood down every time there was the possibility that fraud may have played a role they wouldnt have jobs. UDF is a mess but its not Chernobyl. All I'm saying is surely the auditing industry has legal protections they routinely use that allow them to start their investigative work regardless of what the SEC is doing or in concert with them. In the end they actually share in the same mission.

The longer something like this gets delayed the greater risk documents get "lost"...material memories become fuzzy...God forbid principal players become ill or die. Things happen. Time is not an auditors friend.