Replies to post #57551 on Sino Agro Food Inc (fka SIAF)

[emptyone]

I am sure that the dividend policy will include an ex dividend date some where out in the future so that they can accumulate more cash... I don't see a cash payment near term unfortunately

[thebear37]

PWC - to add to the fraud discussion one would think PWC did some sort of DD on SIAF when they agreed to audit the swedish sub. I know they are not auditing SIAF but you dont want to be an auditor of a subsidary with a fraudulent parent.

I know for fact that there is a vetting process when a big 4 accepts a client. Furthur the fees related to auditing the swedish sub would not justify the risk/image deterioration associated with SIAF being a fraud for pwc even if there is no legal exposure.

The big 4 have been burned by china in the past so my gut tells me they are as cautious as ever when dealing with chinese public companies.

I could be wrong though.