Yes. Impossible to produce financial statements without a qualified Accountant & the day-to-day operations of the business would come to a halt.
The Saleen Job description reveals some issues:
1. Quick Books software is for small garage operation, not designed to execute detailed auditable financial
statements for a high volume automotive mfg/tuner
2. Saleen is not looking for a CPA or an Accountant with much experience in Automotive Mfg. The quality of
financial information is not likely to be very good
3. Saleen will have to rely heavily on an outside CPA firm to assist with preparation of the public statements for review by another CPA to audit & sign off,
4. Also impossible to attract private investors or any lenders to fund the company. Any investor would want accurate, current and detailed financials to secure their knowledge of the business now and going forward.
As an outside investor this missing accountant position, delinquent SEC reporting and high delinquent debt spells trouble. Without significant funding Saleen has no ability to pay down it's debt, including the vendors who Saleen needs to buy parts from or hire employees to launch new product (S7), in my opinion.
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