07-31-2014, 12:16 AM
I think your theory is flawed. MBP, cannot compromise their own good standing with the PCAOB, or within the industry to just have some sort of Gentleman's agreement with NQ.
For starters, look at what is at stake for MBP, to just bail out NQ without actually doing an audit? MBP has to abide by the rules, and follow auditing standards or the PCAOB will come crashing down on them, among other regulators. This theory sounds fabulous to short sellers but is not practical with a firm like MBP, regardless of who their clients are. This is not an auditor from Salt Lake City with 2 employees.
That being said, obviously MBP understands NQ's situation, and the time needed to complete the audit, and therefore is likely going to complete it "expeditiously" as NQ stated in the P.R.
For starters, look at what is at stake for MBP, to just bail out NQ without actually doing an audit? MBP has to abide by the rules, and follow auditing standards or the PCAOB will come crashing down on them, among other regulators. This theory sounds fabulous to short sellers but is not practical with a firm like MBP, regardless of who their clients are. This is not an auditor from Salt Lake City with 2 employees.
That being said, obviously MBP understands NQ's situation, and the time needed to complete the audit, and therefore is likely going to complete it "expeditiously" as NQ stated in the P.R.