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rawman

02/21/17 10:41 AM

#36984 RE: ricanich #36983

Agencies like the PCAOB and Boards of Accountancy sanction and punish auditors, even Meyler did not stoop so low as to blame Tauriga.


Interesting, but "BLAME" is not the subject of my post! "Culpability" is the subject! Cowan and TAUG share some level of fault, potentially mitigating the magnitude of any financial award!

If the judge, assuming there is no jury, as appears to be the situation, asks, "Why did TAUG's Board of Directors/Audit Committee NOT apprise Cowan of any concerns related to the fiscal 2014 and/or 2015 audits, which potentially violated the PCAOB independence rules?"

The TAUG BOD had ample time, i.e. all of fiscal 2014 and 2015, to understand the situation! Apparently, the BOD was not "equipped" to perform this fiduciary obligation for 2014 and/or 2015, or did the Board simply overlook its obligation. Had TAUG's "Audit Committee" been in force, the Meyler audits could have been halted long before Cowan was "fired" 15 days before the annual financial report was due to be filed with the SEC on June 30, 2015.

Forgetting fiscal 2015, very simply, why was Meyler allowed to perform the 2014 audit?

rawman

02/21/17 10:41 AM

#36985 RE: ricanich #36983

Agencies like the PCAOB and Boards of Accountancy sanction and punish auditors, even Meyler did not stoop so low as to blame Tauriga.


Interesting, but "BLAME" is not the subject of my post! "Culpability" is the subject! Cowan and TAUG share some level of fault, potentially mitigating the magnitude of any financial award!

If the judge, assuming there is no jury, as appears to be the situation, asks,

"Why did TAUG's Board of Directors/Audit Committee NOT apprise Cowan of any concerns related to the fiscal 2014 and/or 2015 audits, which potentially violated the PCAOB independence rules?"


The TAUG BOD had ample time, i.e. all of fiscal 2014 and 2015, to understand the situation! Apparently, the BOD was not "equipped" to perform this fiduciary obligation for 2014 and/or 2015, or did the Board simply overlook its obligation. Had TAUG's "Audit Committee" been in force, the Meyler audits could have been halted long before Cowan was "fired" 15 days before the annual financial report was due to be filed with the SEC on June 30, 2015.

Forgetting fiscal 2015, very simply, why was Meyler allowed to perform the 2014 audit?

plutoniumimplosion

02/21/17 3:10 PM

#36987 RE: ricanich #36983

Agencies like the PCAOB and Boards of Accountancy sanction and punish auditors, even Meyler did not stoop so low as to blame Tauriga

And Meyler received the lowest sanction on the PCAOB scale -- a censure. It ended Meyler's career but it is over and done. TAUG wants to re-litigate in news releases, and re-litigate on message boards, TAUG wants to re-litigate through puppets and re-litigate in courtwhat amounted to a mistake. TAUG wants everyone to believe there is some grand conspiracy. And when that fails, there is going to be a bad, bad, bad shareholder backlash.