Deloitte lookad at their books just want to make sure everyone on ihub saw this!!
Telestone Technologies Corporation Announces Initiative Regarding Sarbanes-Oxley Section 404 Compliance
2010-04-28 20:00
BEIJING, April 28 /PRNewswire-Asia/ -- Telestone Technologies Corporation ("Telestone" or the "Company") (Nasdaq: TSTC), a leading developer and provider of wireless communication local access network solutions based in China, today announced that it engaged Deloitte Touche Tohmatsu CPA Ltd., Beijing Branch ("Deloitte Touche") to act as consultant to the Company for purposes of the Company's compliance with the financial reporting and control requirements of the Sarbanes-Oxley Act Section 404 ("SOX 404").
As part of compliance with SOX 404, Telestone will report on the adequacy of its disclosure control and internal control over financial reporting after documenting and evaluating its procedures. Telestone's SOX 404 compliance program will also address how management's decision making is linked to financial reporting risks.
"Review of our disclosure control and internal control over financial reporting procedures will be useful for our ongoing efforts aimed at ensuring efficient operations," stated Chairman Daqing Han. "It will contribute to the Company's long-term management especially in the period of high-speed development."
Telestone expects to meet the requirements of the Sarbanes-Oxley Act before December 31, 2010.
