CQMT is now DDD (Chequemate International, Inc) Message Board

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Technology Stocks : CQMT is now DDD (Chequemate International, Inc)

DDD 2.820

-6.9%

Oct 30 3:59 PM EDT

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To: pranadude who wrote (38)	5/31/2000 9:47:00 AM
From: StockDung	Read Replies (1) of 51

Salt Lake City CPAs Accused of Bad Audit on Dynamic American Washington, May 30 (Bloomberg) -- Two Salt Lake City accountants improperly audited Dynamic American Corp., a defunct Utah company that misrepresented the value of its South American mining properties, the Securities and Exchange Commission said. The SEC alleged in administrative charges that CPAs R. Gordon Jones and Mark Jensen ``recklessly'' violated professional auditing standards in a 1995 audit of Dynamic American, which described itself as a mining company. Dynamic American's stock registration was revoked last year after the SEC accused it of misstating the value of Bolivian mineral properties acquired in a sham transaction. The financial statements audited by Jones and Jensen overvalued the Bolivian mines at $36.6 million, the SEC said. Jones's lawyer did not have an immediate comment. Jensen's lawyer could not be reached. The men face a hearing before an SEC administrative law judge, who will determine whether they should be censured temporarily or permanently barred from practicing as accountants before the commission, the SEC said. Jensen is contesting separate SEC charges that he was involved with an improper audit of the financial statements of Sky Scientific Inc., a defunct Florida gold mining company, the SEC said. In March 1999, an administrative law judge ordered Sky Scientific, and 16 brokerages, stock promoters and former company executives to pay $14.8 million in penalties after ruling that they illegally touted the company's stock. May/30/2000 18:05 ET For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.

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