SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Nathan Hansen who wrote (1023)9/14/1999 2:24:00 PM
From: John Gorham  Read Replies (2) of 1208
 
Talking of disclosure (or rather the lack of it), I am wondering who the auditors are. Before the AGM in 1998 the company said it was proposing a change in auditors from Dick Cook Schulli to Deloitte Touche, subject to shareholder approval. I was surprised on downloading the 1999 fiscal report from SEDAR to find the name "DICK COOK SCHULLI" printed at the foot of the auditors' report. I assumed that the proposal for a change last year did not receive approval.

However, today I received a copy of the report in the mail. There is the auditors' statement, but no name at the foot. I have not seen an actual signature--not even a facsimile. So I am wondering, who are the auditors? Dick Cook Schulli or Deloitte Touche?

And, as a matter of interest, do the shareholders have the right to ask questions of the auditors? Two questions I have are "What is the nature of the 'impairments' shown on the revenue statement, amounting to almost two million dollars?" and "What are the circumstances that prompted a sudden write off of these amounts in the fourth quarter?"

I have not seen the word 'impairments' used in this context before. I assume it does not refer to normal depreciation, but possibly to some violent event. These impairments are clearly of more consequence than a $40,000 credit card account.

John
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News