Why would a Rancho Cucamonga, California, firm - with their IR office in Key Largo, Florida, hire a Tampa, Florida, CPA firm? I could understand it if they were a national firm, but they're a local one. Where are HITT's books and records? Where is their CFO? Where are people who keep track of their BIG account receivable?
I hope the firm took out a separate insurance policy covering the audits they are about to do, because, IMO, they could need it if the LFT receivable goes south. Then all you True Believing longs will be screaming and looking to sue anybody with a deep pocket that ever touched the company - and often, that is the CPA firm. (My opinion, of course) |
