AYSI changes auditors...
no mention of the impact on release of FY07 numbers.
ITEM 4.01 CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT.
On December 18, 2007, the board of directors of Alloy Steel International Inc resolved to dismiss Bentley’s MRI (BMRI), as its independent auditor for the fiscal year ending September 30, 2007 and engaged Grant Thornton WA Partnership to serve as its independent auditor for fiscal year ending September 30, 2007.
This change has been occasioned by the change in international affiliation of the Bentleys MRI firm closest to the company’s operations which conducted the majority of the audit services for the Bentleys MRI report for the company for the year ended September 30, 2006.
BMRI was appointed by the company on September 18, 2006, to be its auditor for the fiscal year ending September 30, 2006 and reappointed for subsequent years.
From September 18, 2006, to present there have been no disagreements with BMRI on any matters of accounting principle or practices, financial statement disclosure, auditing scope or procedure which if not resolved to satisfaction would have caused them to make references to the subject matter in connection with their report.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
In relation to financial statements of the company for the past two years the accountants report has not contained any adverse opinions; disclaimer of opinion or was qualified or modified as to uncertainty, audit scope or accounting principals.
In addition the company believes there are no reportable events which require disclosure as required by them 304(a)(3)(iv) B of regulation S-B.
The company has provided BMRI with a copy of the foregoing statements and requested that BMRI provide it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the preceding statements.
When it comes to P/Es, 7 is the new 14...