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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: Janice Shell who wrote (23595)8/3/1999 6:54:00 PM
From: tonto  Read Replies (1) of 26163
 
There may be some confusion regarding auditors independence.

ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT.
In February of 1999, Amazon Natural Treasures, Inc. ("the Company") decided to change auditors due to the fact that the prior auditor is still due compensation from the previous audit and would lack independence. The SEC and the American Institute of Certified Public Accountants with regards to conducting an audit and issuing an audit report do not deem the prior auditors independent. The Company's management and financial direction set for the Company and its Shareholders have deemed the change of auditors to be an appropriate decision.

Wonderful wording by the company which if one does not have prior knowledge regarding auditors independence would make it appear to be a decision the company made by simple choice.

Auditors may not properly audit a company if they remain unpaid. This must be disclosed by the auditors
and auditors initially address the company regarding their unpaid status. With $$$$$'s hanging over their heads, they could otherwise be influenced...an excellent rule to protect investors.

By: panchovilla
Reply To: 3121 by CarlW Tuesday, 3 Aug 1999 at 6:23 PM EDT
Post # of 3125


Don't know the answers to any of those questions.

The concept of firing an auditor because his independence is questionable as a result of the client not paying a fee is simply mind-boggling. Using that logic, it follows that an auditor should work for free, otherwise the payment of a fee might be considered an intrusion on the auditor's independent judgment. A bribe, if you will


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