China Growth Stocks

[rjeezy007]

CCME and Deloitte

From what I recall, a company does not issue an audit opinion on quarterly financial statements. However, this does not mean that Deloitte simply takes a year off and shows up for the annual audit in late Jan or February. Normally what happens is that procedures are performed on the quarterly statements and the auditor will examine certain things at these points in time, however, NO audit opinion is issued at this point. For example in comparison, I was looking at NE's (Noble) 10Q and their auditor who is PWC wasn't found signing off in the 10Q either. I'm going to try to look into this tomorrow and see if what I have said above is correct. I think a company can elect to have its financial statements reviewed at each quarter but this would become overly costly and is probably only beneficial for large corporations, I believe Microsoft obtains this from Deloitte at each quarter. Again, I'm just going off thought here, I'll try to get a better answer tomorrow.