<<It sounds like there's some kind of dispute>>
I think these first two are pretty clear...
None of BDO's audit reports on Registrant's financial statements for such years contained an adverse opinion or a disclaimer of opinion, nor was any report qualified as to uncertainty, audit, scope or accounting principles.
During Registrant's two most recent fiscal years and any subsequent interim period preceding BDO's resignation, there were no disagreements with BDO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure
Isn't this the exact same statement(s) which accompanied last quarter's report? And weren't adjustments likely anyway after the appraisals and studies?
Had BDO applied audit procedures to these purchase price allocations, such procedures may or may not have resulted in material adjustments to these allocations
This one is harder to interpret. What "other procedures"? What "other matters"? I'll have to check to see if this statement was also included in previous disclaimers.
Had BDO performed other procedures since the date of its last audit,which covered the fiscal year ended September 30, 1997, other matters may have come to its attention which might have been reported to the Registrant.
I have seen auditors and accounting firms resign without there being any "disputes", so I'm not jumping to any conclusions. I'll be very interested to hear what Alex says about this. Jim, any contact today? They sure picked a lousy time to spring this news though. All in all, it could have been worse today, considering.
Brad |
