InvestorsHub Logo
icon url

namtae

03/03/23 3:05 PM

#378537 RE: springnut #378536

Really?

Auditors ??? Please.
Their just another set of paid for eyes.



Auditors of public companies are required to do much more than being another set of eyes. Auditors will look at sales receipts, invoices and even make a physical count of inventory. They need to see evidence.

CFOs can provide auditors their general version of financial accountability for non-audited financials, such as 10-Qs, which are compilations

Many times an auditor can turn to external sources for evidence, like vendors & distributors etc which look beyond what the CFO provides

No quality auditor is gonna run the risk of putting their signature over a 10-K without having done a thorough exam with documented evidence, especially for a dink company like Elite

Ive seen many 10-Ks withheld by auditors until certain documentation and proof was provided.