Green Oasis (GRNO)

[loanranger]

"It is my understanding that each audit is based off the prior audit."

In the broadest sense that is correct. No financial statement for a current period can be completed without first having completed the prior period.

Just 2 points:
1) There are many parts to an audit. Cash accounts must be reconciled, accounts payable and receivable must be verified, systems must be tested, sales documents must be reviewed and verified and much more. These components can be completed without the prior period financial statements. The current financial statements could not be completed, or audited (this term is being abused here) if any one of the required components is not complete. And, no subsequent period could be "audited" until the current one is complete. But there is no significant alteration of the "pace" of the audit, as the email indicated.
2) There seems to be a feeling, and perhaps you are intimating, that Carraway is holding a financial statement that would serve as a starting point for the current accountants. I have no idea whether that is true or not. However, Taylor attributed the delay to a "simple piece of paperwork" and under no circumstances could a set of financial statements be considered a simple piece of paperwork.

BTW, I'm sure you're a fine welder and I spent a number of years as an accountant.

Finally, I made it as clear as I could that I admired Rocker4's effort and in no way suggested that the information provided, which does stink on ice, was any fault of his. On the contrary, without his effort we would not have had the current useless propaganda.