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JoseyWales88

07/22/23 4:55 PM

#161361 RE: phx_invest #161358

Risk their reputation and financial liability? No, of course not.


They love auditing these shit little tickers. The fact that it took 18 months, once again you missed the point. I'm not arguing it wasn't a valid audit. I'm saying it took 18 months and they loved every minute of it, the way a mechanic loves it when someone brings in a shambling, rusting piece of junk and the customer says "do what you can with it".

Spend $10,000 to make it drivable when you could have bought two used cars for the price.


Auditing RSHN was lipstick on a pig that could have better been spent buying back the 1,000,000,000 shares that they once promised to do.

Would have gotten a lot more mileage out of that! Instead you got an audit that helped nothing. Just a stupid bragging point that the company has been audited. So what? Helps nothing. Does nothing. Nobody is going to buy this shell because it was audited but "oh, by the way, you can never take any corporate action with it because its missing several years worth of paperwork"

Lipstick. On. A. Pig.


A joke.



lol
Bearish
Bearish
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MiltonTonic

07/22/23 11:47 PM

#161364 RE: phx_invest #161358

Are you suggesting Somerset could be sued by rshn for missing the 250,000 STNT shares?
Can rshn collect malpractice insurance money from Somerset?
That could RESCUE rshn!!!
Thoughts?
______________________________________________________
Key Takeaways
- Audit risk is the risk that financial statements are materially incorrect, even though the audit opinion states that the financial reports are free of any material misstatements.
- Audit risk may carry legal liability for a certified public accountancy (CPA) firm performing audit work.
- Auditing firms carry malpractice insurance to manage audit risk and the potential legal liability.
- The two components of audit risk are risk of material misstatement and detection risk.