Replies to post #236 on Skystar Bio-pharmaceutical Co. (fka SKBI)

[236T568]

I'm sorry, but what part of the audit committee's conduct regarding the false bank statements, as per SKBI's very own SEC filings, did YOU NOT UNDERSTAND?



http://www.sec.gov/Archives/edgar/data/1076939/000114420415060610/v422717_8k.htm

Nasdaq also notified the Company of two additional, and separate, bases for delisting under Listing Rule 5250(b)(1) (failure to disclose material non-public information) and Listing Rule 5101 (public interest concerns). The information to which Nasdaq referred was the conduct by the Company’s audit committee of an internal investigation into certain allegations, raised by the Company’s auditors, that the auditors had been presented by Company personnel with false bank documents relating to one bank account.

No I am not. But if this were a US company, then the employee would be proscecuted and that would be the end of it. You can't sue the company because they haven't reported anything yet.

But one has to wonder why the bank statements were passed on by higher level employees to the auditor. Where was the audit committee? Was it their responsibility to check it first? Now it will become a corporate governance issue. And the auditor may very well be pressing the company to disclose that internal controls are not effective, etc.

But, it's none of Nasdaq's business. Because they haven't bloody reported it yet! And all you fraud mongering shorts can do is yell "fraud". Which is wrong.