I would agree that Bergamo Acquisition Corp is a global holding having interests in at least four offshore financial intermediary entities and several non-financial companies.
The accounting firm of L L Bradford & Company prepared statements for a number of OTCBB companies.
The financial statements prepared by L L Bradford were very clear that they performed a compilation as opposed to a review or audit.
According to AICPA website, the governing body for accountants, they define a compilation as follows:
Compilation
• Compiled financial statements represent the most basic level of
service CPAs provide with respect to financial statements.
• In a compilation engagement, the accountant assists management in presenting financial information in the form of financial statements without undertaking to obtain or provide
any assurance that there are no material modifications that should be made to the financial statements[/I].
• In a compilation, the CPA must comply with Statements on Standards for Accounting and Review Services (SSARSs), which require the accountant to have an understanding of the
industry in which the client operates, obtain knowledge about the client, and read the financial statements and consider whether such financial statements appear appropriate in form and free from obvious material errors.
• A compilation does not contemplate performing inquiry, analytical procedures, or other procedures ordinarily performed in a review; or obtaining an understanding of the entity’s internal control; assessing fraud risk; or testing of accounting records; or other procedures ordinarily performed in an audit.
• The CPA issues a report stating the compilation was performed
in accordance with Statements on Standards for Accounting and Review Services; and that the accountant has not audited or reviewed the financial statements and accordingly does not
express an opinion or provide any assurance about whether the financial statements are in accordance with the applicable financial reporting framework.[/I]
Rest assured with the knowledge that your investment is secure given the receipt of third party printed financial statements.
