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To: j bayer who wrote (2011)7/12/1998 9:15:00 PM
From: PistolPete  Read Replies (1) | Respond to of 4230
 
Not really news

The company switched to a Dallas, TX based CPA firm about two months ago, if memory serves, and this was mentioned in one of Colin's conference calls. As Flightless said, the company realized that it only made sense to have a US CPA on the job, and when the SEC got back to them, that's who they were working with.

The SEC application has not been "declined". It should have been filed electronically, from what I understand, but the only thing going on is a dialogue regarding routine clarifications, etc. No one ever said that the SEC's questions have been linked to the company's previous use of a Mexican accounting firm and, just for the record, there are real accounting firms even in Mexico; one would assume that they still have one on retainer just because of all the business they do down there.



To: j bayer who wrote (2011)7/13/1998 2:28:00 PM
From: Harold Finstad  Read Replies (1) | Respond to of 4230
 
j bayer-Who do you think does most of the audits for all the foreign divisions of major US public companies? Foreign auditors of course. Do you think that the SEC or anyone else makes the companies involved re-do their numbers with a US firm? Of course not. The US Parent company auditors do what's called a "Review" and use the foreign auditors numbers.

I get my information directly from Colin Smith, where did you get yours? If you trust everything you read on chat boards, you had better get a second job, for you will go broke fast.