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Microcap & Penny Stocks : CAGI--A Sleeper Waiting to Wake Up!!!!
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To: smallstocks who wrote (733)2/8/1999 11:17:00 PM
From: R.E.B.  Read Replies (1) of 1020
 
Be careful, there are degrees to that rule and they vary from State to State and between firms. For example, I was never asked what stocks my wife owned.... nor was I asked about what stocks my parents or siblings owned. I worked in the tax department. But the audit department is asked about the ownership of stocks by affiliates (family). And the actual auditors of a public firm are asked about anyone, even friends and remote family about the knowledge of ownership in the stock. The big six are usually the strictest (because they have the deepest pockets when it comes to independence issues).

I can provide more details, but that still does not change the fact that an auditor who takes a position with a company will not be hired back as long as that company is an audit client. So, he would not take the job in the first place unless he was convinced of a future with the company.

In-other-words, good news for CAGI and us shareholders.
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