Does BDO requested an engagement Forensic Audits?Ulaanbaatar, Mongolia--(Newsfile Corp. - August 10, 2021): "...With an estimated 30% or more of Steppe Gold shareholders now based in Asian time zones, Steppe Gold has been considering for some time the option of a
listing on a major Asian stock exchange..."
One of the best option is Hong kong stock exchange (SEHK). Mongolian coal mining company MMC listed in SEHK.....
https://www.mmc.mn/en ..... I don't think STGO could pass SEHK requirements at the current. Before it, BDO have to reconstruct past events & re-audit least 1 year to assure correctness of beginning balance......
What is a Forensic audit? .....A forensic audit is an examination of a company’s financial records to derive evidence which can be used in a court of law or legal proceeding. Some examples of the form that financial statement fraud takes are the intentional forgery of accounting records, omitting transactions – either revenue or expenses, non-disclosure of relevant details from the financial statements, or not applying the requisite financial reporting standards.....
https://www.bdo.fi/en-gb/services/advisory/forensics BDO is the 5th ranked audit firm chosen by SEHK listed companies.......
https://www.hic.com.hk/UserFiles/File/News/2020/Survey%20of%20auditors%20of%20listed%20companies%20in%20Hong%20Kong%20(Apr%202020).pdf If BDO requested an engagement re-audit or forensics, i think it's a very good decision. Because STGO's financial information is unstable, jumping up & down, confusing Non-GAAP metrics with GAAP/IFRS metrics....Lost the link between Management accounting & Financial accounting....Then STGO said DFS economic projection headline numbers will came coming weeks...hah....how consultants would do basic calculation? based on wrong numbers?
Interesting, what's happened when BDO looked at MNP's working papers? when looked at STGO's financials? i'm guessing, they said: just RE-AUDIT, no other options.....IMO