InvestorsHub Logo
Followers 0
Posts 216
Boards Moderated 0
Alias Born 11/06/2011

Re: None

Tuesday, 01/03/2012 2:23:59 PM

Tuesday, January 03, 2012 2:23:59 PM

Post# of 60938
Does anyone even know what audited financials are?

that means that they "test" the financials against documentation, all this fuss about the documents proves there is a set, which may not be complete, is now known by way of the scuffle to be "all they have" of course w/ kyle and cristian running wild for the past year or so who knows what else needs to be accounted for.

the bottom line is that the company and the autitor will have to work hand in glove together to satisfy the audit again it will boil down to representations and whether the auditor believes them and they will always give some sort of caveat to that effect but also that they believe.

sorting through dozens of bankers boxes of stuff is tough, and in some sense it can be worse if one has to do it electronically assuming things are not "just so"

frankly, i think the biggest problem will be in handling the files and finding things quickly the auditor will get paid to wait so most of the cost will come from doing nothing but trying to find things--chester is not a database programer and for other reasons, they will not get any help from vallentti,

kyle is mess so i'd expect she wil make up excuses untill the auditor quits, that's why we need other people in charge
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.