LOL! Don't confuse me with facts you say.
One. It is actually nine days since the legal deadline of 9/28/13.
Two. Company input has nothing to do with the delay.
Three. There is no "Company Representative", non-existent job.
Read and learn. This below was posted before. If you talk to any Officer of the company they will tell you exactly why there is a delay without going into prohibited disclosure details that cannot be discussed. It is really easy to have an intelligent conversation with our officers and they are all open to intelligent inquiry. I am sorry your attitude and lack of contributions did not allow you to join the PTQblog. They try to concentrate on facts and not emotions. Everyone knows you do not like how the company is run, as well as the fact that you do not have enough shares to do anything about that, if you so chose. Your are at the mercy of those who do and know more than you do about the way forward. You can sell or suffer the reality of your life. It does not matter. Filing will be done when we choose to do it. As a shareholder, you are welcome at the AGM to state your case.
ONE MORE TIME, CONCENTRATE ON THE LAST SECTION AND READ SLOWLY...
ISA 315 (IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT) defines assertion as representations by management, explicit or otherwise, that are embodied in the financial statements, as used by the auditor to consider the different types of potential misstatements that may occur.
ISA 200 deals with components of audit risks that occur on the level of assertion.
In a financial audit, management assertions or financial statement assertions is the set of information that the preparer of financial statements (management) is providing to another party. Bir P (1975) "Financial statements represent a very complex and interrelated set of assertions." At the most aggregate level, the financial statements include broad assertions such as "total liabilities as at 31 December are $50 million", "total revenue for the year is $9 million" and "net income for the year is $3 million".
Auditors decompose these broad assertions into a detailed set of statements referred to as management assertions, separated into three categories:
Transactions (Income Statement):
Occurrence — the transactions actually took place
Completeness — all transactions that should have been recorded have been recorded
Accuracy — the transactions were recorded at the appropriate amounts
Cutoff — the transactions have been recorded in the correct accounting period
Classification — the transactions have been recorded in the proper accounts
Accounts Balances (Balance Sheet):
Existence — assets, liabilities and equity balances exist
Rights and Obligations — the entity holds or controls the rights to its assets and owes obligations to its liabilities
Completeness — all assets, liabilities and equity balances that should have been recorded have been recorded
Valuation and Allocation — assets, liabilities and equity balances are included in the financial statements at appropriate amounts and any resulting valuation or allocation adjustments are appropriately recorded.
Presentation and Disclosure:
Occurrence — the transactions have occurred
Rights and Obligations — the transactions pertained to the entity
Completeness — all disclosures that should have been included in the financial statements have been included
Understandability — financial statements are appropriately presented and described, and information in disclosures are clearly expressed.
Accuracy and Valuation — financial and other information is disclosed fairly and at appropriate amounts.
