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SEC Settles Probe of Auditor in China Case

Requests to speak with Dean Yamagata at Moore Stephens were referred to Jeff Jones, a managing partner at the firm. Jones did not immediately respond to requests for comment.

According to a report issued by the Public Company Accounting Oversight Board (PCAOB) on May 21, 2008, an inspection of Moore Stephens "did not identify any audit performance issues that, in the inspection team's view, resulted in the Firm failing to obtain sufficient competent evidential matter to support its opinion on the issuer's financial statements."

The PCAOB inspection team, which conducted a review from June 4, 2007 to June 8, 2007 and from June 11, 2007 to June 12, 2007, "did not identify anything that it considered to be a quality control defect that warrants discussion in a Board inspection report," according to the report.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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