Homepage
PR Newswire
06-10-2010, 11:18 PM
Just to add on to the debate,
I'm not sure how the corporate world out there really works but a few points:
1) LTC LLP may not be seeking re-appointment but they have given their opinion that the financial statements were drawn up properly. If this set of financial statements or those that were audited by them (i.e from 2006) turn out to have some major form of error, wouldn't it still reflect badly on their ability to discharge their duty?
2) Sin Ghee Huat, having appointed a 'big four' auditor, must also know that if any of their previous statements are dodgy, then having a new auditor will not help them in the upcoming year. So assuming there is some hanky-panky going on, unless all the insiders plan on making a big escape in the coming year, why would they hire a big four auditor or a new auditor for that matter? Isn't better to keep the 'show' going?
Am I right to think along these lines?
I'm not sure how the corporate world out there really works but a few points:
1) LTC LLP may not be seeking re-appointment but they have given their opinion that the financial statements were drawn up properly. If this set of financial statements or those that were audited by them (i.e from 2006) turn out to have some major form of error, wouldn't it still reflect badly on their ability to discharge their duty?
2) Sin Ghee Huat, having appointed a 'big four' auditor, must also know that if any of their previous statements are dodgy, then having a new auditor will not help them in the upcoming year. So assuming there is some hanky-panky going on, unless all the insiders plan on making a big escape in the coming year, why would they hire a big four auditor or a new auditor for that matter? Isn't better to keep the 'show' going?
Am I right to think along these lines?