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GreenStar Agricultural Corporation V.GRE



TSXV:GRE - Post by User

Comment by mtsuiton May 28, 2014 11:53am
211 Views
Post# 22605555

RE:RE:RE:RE:RE:RE:RE:Auditors

RE:RE:RE:RE:RE:RE:RE:AuditorsIt could end up being a situation which is "none of the above".  One problem encountered by several listed Chinese Ag businesses is that they do a lot of rural transactions in cash.  At some point it turns out they didn't have international standard cash controls and record keeping.  If GRE were in a situation like that then the accountants and auditors would face a big task of working with imperfect records of past activity.  Then they would have to identify all the deficiencies and develop a plan to address them.  If GRE were in a situation like that then there might have been some "leakage" of cash, but not fraud that seriously imperiled the business.

That's just a suggestion of a possibility that would fit the limited facts currently available to us.  The actual situation could turn out to be something completely different.  Until the next company announcement we really don't know.
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