If they are audited by a CPA or CPA firm they have to follow GAAP

Generally

Accepted

Accounting

Principles

From the 10K...

"In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of March 31, 2008 and 2007, and the results of their operations and their cash flows for each of the two years in the period ended March 31, 2008 in conformity with U.S. generally accepted accounting principles. " - /s/ Singer Lewak Greenbaum & Goldstein LLP