Bots Inc (BTZI)

[lesgetrich]

Paul changed auditors so much that they never had a real chance to loo into everything. And you know it.

The auditors were changed three of four times over eight years. Their current auditor has audited the company before. A year should be enough time for an auditor to figure things out. Each time an auditor takes over they are required to communicate with their predecessor auditor about anything that could cause concern. The Public Company Accounting Oversight Board (PCAOB) publishes accounting standards that auditors are expected to follow. The standards require the following...

AU Section 315 - Communications Between Predecessor and Successor Auditors

The successor auditor should make specific and reasonable inquiries of the predecessor auditor regarding matters that will assist the successor auditor in determining whether to accept the engagement. Matters subject to inquiry should include—

* Information that might bear on the integrity of management.
* Disagreements with management as to accounting principles, auditing procedures, or other similarly significant matters.
* Communications to audit committees or others with equivalent authority and responsibility fn 4 regarding fraud, illegal acts by clients, and internal-control-related matters. fn 5
* The predecessor auditor's understanding as to the reasons for the change of auditors.
* The successor auditor may wish to consider other reasonable inquiries.

(The following matter subject to inquiry is effective for audits of fiscal years beginning on or after December 15, 2014. The release adopting this provision, PCAOB Release No. 2014-002(PDF), states that "[t]he amendments to AU sec. 315 require the auditor to make inquiries regarding the predecessor auditor's understanding of the company's relationships and transactions with related parties and significant unusual transactions." The PCAOB staff will recommend consolidating this matter with the preceding list of matters subject to inquiry in future standard setting.)

* The predecessor auditor's understanding of the nature of the company's relationships and transactions with related parties and significant unusual transactions. fn 5A

Unfortunately, auditors don't subscribe to your scam accounting fantasies.