RE:RE:I can't Find The PostReggie1 wrote: That would have been me.
I replied to someone who said the auditors were doing things to sort things out. If you think the auditors are going to clients to get information that is simply incorrect and that is not how an audit works.
There is GAAP and if you do not know what that is then best not to continue. But there are standards to be met based on assumptions and the auditors are pointing that out. RHT then does their best to rectify or justify what it is they are doing and why it is they are doing it and the auditors will agree or disagree until the auditors are satisfied. So that is the part about working with the auditors. But by all means agree with what RHT tells you is going on with regards to the "auditors working with the company".
They need the data to determine what lies behind past financials as clearly 110% RHT was winging it to what they thought would pass and show the best light possible on the company financially.
Fear mongering? Get real, respectfully. The biggest fear mongers are the company communicators.
You will probably disagree with what I say on some points and fair cop but I would not be saying it unless I had knowledge and understanding. I have been corrected here before and acknowledged that correction. In this case none is required.
Tropicalsun wrote: from a couple of days ago where the poster said that the ongoing delays had nothing to do with the auditors, that they had what they need. I remember reading that post and thinking to myself, what are you talking about?
It is always a back and forth process where the auditors ask for certain information from the company, because usually they find discrepencies. Doesn't always mean that something is off, but regardless the information asked for has to be verified and corrected if need be.
Now of course in order to verify this information the company and auditor's need to get some of this information from Reliqs clients, makes sense that this could take some time. To be clear I am not defending the company and why things are taking so long.
We all can speculate and we have, some of these previous posts in my view are blatant fear mongoring. Today's news release does shed some light on the process, now we need the data from this audit to determine what lies ahead.
So just to be very clear and short, I was never singling any of your posts as being fear mongling. I could name names, however it would serve no purpose as I have no interest in time wasting debate.
What I do find ironic is the fact that I have never once in the past sent an email to the company IR person until yesterday. I recieved a reply late today, so well after the press release from this morning. After reading the company press release and the reply from Scott, then reading your post, I am left to draw my own conclusions as how much of any of this is truth.
What is evident again is to ignore the daily noise and wait for financial data reports. Then again stating the obvious that an internal purging needs to happen. Unfortuneatly I do not see a quick end insight to all this chaos, so time better spent away until the financial reports come out.