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+--- Thread: just be aware extra long time might be taken by Marcum to file 20-F (/showthread.php?tid=7112)
just be aware extra long time might be taken by Marcum to file 20-F - gaosl11 - 07-19-2014
I just found out the same law firm and auditor firm is also hired by Ambow in April 2013. And Ambow filed their 2012 and 2013 20-F on July 8th 2014, which is more than 1 year.
Obviously there are many difference between Ambow and NQ, and Ambow seems write off a lot asset and going through shareholder ownership restructure. Just want to reminder you that with new audit firm, magic won't happen over nights
RE: just be aware extra long time might be taken by Marcum to file 20-F - gaosl11 - 07-19-2014
link of Ambow news
http://www.mediawebsite.net/dallassouthnews/story/?catSetID=7007&catID=290812&nrid=202282801&page=7
RE: just be aware extra long time might be taken by Marcum to file 20-F - Banco_Central_de_Costa_Rica - 07-19-2014
Yes that makes sense, since I'm sure PWC was not asked to help in the transition of the audit... even though the process was all but completed by PWC according to earlier press release's... this whole thing just keeps getting clearer...
RE: just be aware extra long time might be taken by Marcum to file 20-F - Kenji100 - 07-20-2014
'gaosl11' pid='47438' datel Wrote:I just found out the same law firm and auditor firm is also hired by Ambow in April 2013. And Ambow filed their 2012 and 2013 20-F on July 8th 2014, which is more than 1 year.
Obviously there are many difference between Ambow and NQ, and Ambow seems write off a lot asset and going through shareholder ownership restructure. Just want to reminder you that with new audit firm, magic won't happen over nights
A timeline would have been agreed to for NQ to fire PWC and hire Marcum.
RE: just be aware extra long time might be taken by Marcum to file 20-F - StrongHand - 07-20-2014
I don't think marcum will take too long on 20f. Ambow really has some internal problems. So, marcum may took a little longer time to finish 20f. However, NQ is totally clean. Just because PWC US is such a jerk, 20f took long time but still could not be signed by PWC US. My guess that marcum will sign off 20f about 2 months.
RE: just be aware extra long time might be taken by Marcum to file 20-F - Banco_Central_de_Costa_Rica - 07-21-2014
Well it appears if PWC does not sign off on 2011 and 2012 in the form of an ok that Marcum may be hired to RE-audit those years too... Not a great deal for shareholder's again but again if this doesn't work I guess we hire and fire all over again...
RE: just be aware extra long time might be taken by Marcum to file 20-F - BillNeuburger - 07-21-2014
Well that's assuming they didn't already square that away "at the table.." Of course that will be yet another point to maintain the attack and depressed valuations.
RE: just be aware extra long time might be taken by Marcum to file 20-F - quantumvibes - 07-21-2014
it was stated that nq and pwc parted ways not due to any disagreements, etc. so i don't see on what basis pwc could retroactively pull their unqualified opinions from previous years...
RE: just be aware extra long time might be taken by Marcum to file 20-F - maplell2002 - 07-21-2014
There won't be restatement or re-audit for 2011 and 2012. The fowling statements from the PR had already made it clear.
"the Company's Audit Committee has engaged MBP as its new Independent Auditor with respect to the fiscal year 2013 and subsequent periods."
"there is no disagreement between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure."