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Alias Born | 10/17/2023 |
Thursday, January 04, 2024 10:49:40 PM
Took 15 minutes. If I'm right, the hiring of a new firm makes sense. There are no coincidences.
It also creates questions about the status of the target audit. B.F. Borgers was involved in the target audit--correct?
(Not you, Don Faton. If I need you, I'll whistle.)
On December 7, 2023, the Canadian Public Accountability Board found 19 violations in its review of 2 audits completed by B.F. Borgers, headquartered in Lakewood, Co. (The firm does not have offices within Canada.) As a result, B.F. Borgers was sanctioned, as follows:
"The Firm is prohibited from accepting Canadian reporting issuer clients including those
resulting from initial public offerings, reverse takeovers or other transactions. For
greater clarity, an existing private company audit client seeking to become a reporting
issuer through initial public offering, reverse takeover or other transaction is considered
a new reporting issuer."
SOURCE (It's a 3-page, crystal-clear document):
https://cpab-ccrc.ca/docs/default-source/enforcement/2023-enforcement-actions-imposed-bf-borgers-en.pdf
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