SPOOZ Inc (SPZI)

[Mr Smith 34]

I did not expect many earth shaking revelations in the audit as it was a change of ownership. However, I do find it troubling that the audit did not address subsequent events. Contacts for close to 1 Billion dollars are certainly material. I find it hard to believe the auditor would have missed including them. The company has released the anticipated value so there should be no trouble calculating a receivable value. PCAOB is very clear on what constitutes a material subsequent event that should be included somewhere in the report.. I don't know why subsequent events are not included in the report, but I strongly feel they should have been,

PCAOB - AS 2105 “the auditor should evaluate whether, in light of the surrounding circumstances, there are particular accounts or disclosures for which there is a substantial likelihood that misstatements of lesser amounts than the materiality level established for the financial statements as a whole would influence the judgment of a reasonable investor. If so, the auditor should establish separate materiality levels for those accounts for disclosures.”