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Message: Auditor Fees

Auditor Fees

posted on Feb 27, 2009 05:50AM

I too am dismayed by the delays in getting the financials.

The size of the fees for the audits are not picked out of the air at random. Auditor fees reflect the amount of time necessary for the auditors to verify the numbers.

Given the fact that MF and his team are two years(I think) behind in filing, the reported size of the audit fees tells me that the numbers presented to the auditors were probably the equivalent of my giving my accountant a bunch of receipts in a shoebox. An audit is serious stuff, and given the history of lack of compliance by management, the fees are very likely in order.

What is more important is that we, as shareholders, keep management's collective feet to the fire to ensure that their previous irresponsible actions are not repeated.



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