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Thursday, May 09, 2019 8:52:11 AM
Auditors just need statements and records...
If the SEC approved them for OTC-QB, then everything is kosher...
So what if they utilized a 3rd party service in another country... The SEC vets which auditors they accept an audit from, it's not like they can just have their grandmother audit their financials... There is a certification process, and if an auditor is known to pass fraud as a good audit the SEC black lists them, the SEC won't allow them to be used by any other company for auditing to uplist or remain uplisted...
I don't get why this spooks people... Is it a little odd, sure I guess maybe... But it's not really that unusual - consider how much the USA relies on countries like India and China, etc. to do a lot of our work... Stuff is out sourced all the time... Manufacturing, call centers, etc... It's still a US based country trading on the US OTC market...
Are you all saying Indians can't count? What's the problem?
If the SEC says they're an approved auditor, the they're fine... Again, you can't just have anyone perform the audit...
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