New independent auditor jumped out the boatMy God! the independent auditor who has just been hired, already had given a message in the last quarterly report 2Q15 and report was delayed. Now, is it possible that they definitely refused to sign and for this reason was summarily replaced? This in eve before quarterly results disclosure is like throwing gasoline on the fire. Should be to give more excitement.
NEWS RELEASE
PETRORIO INFORMS REPLACEMENT OF INDEPENDENT AUDITOR Rio de Janeiro, October 20, 2015 – Petro Rio S.A. (“PetroRio” or the “Company”) (BM&FBOVESPA: PRIO3, TSX-V: PRJ) hereby informs announces that the Board of Directors approved the engagement of Lopes, Machado Auditores (“Lopes, Machado”), enrolled at Brazilian Registration of Corporate Taxpayers (CNPJ/MF) under no. 40.262.602.0001-31 (CVM code no. 5363) to perform audit services beginning with the audit of the third quarter of 2015. The replacement of the Company's independent auditor is consistent with the continuous efforts of PetroRio to reduce significantly its costs and expenses. The Company informs that, in compliance with the article 28 of CVM Instruction 308/1999, as amended, it has obtained the consent from Deloitte Touche Tohmatsu Auditores Independentes regarding the justification for this replacement. Lopes, Machado is a member of BKR International, one of the five largest global associations of audit and consulting firms, with over 160 associates in 80 countries.