mpd68, the accountant does have to sign the AUDIT report (if an audit is done). The accountant is never responsible for the contents of the financial statements, just performing his duties as an auditor.
The audit report always says that there is no way to guarantee that fraud has not been committed.
Ultimately, the officers of the corporation (President and CFO) are responsible for the accuracy of the financial statements - they sign these. It is possible that the old accounting firm discovered problems and that is why they no longer work for the co.
If an outside accountant discovers problems with the financial statements, he must inform the audit committee (Burg was on it) and the company must amend the reports. If it refuses to do so, the accounting firm must withdraw from the engagement and cannot continue to work for them.
idk what happened here, but this is one possibility.
cm1
New IR Department at XKEME - working overtime for the shareholders. ;-)
