"The [audit] deficiencies [we] identified in one of the audits reviewed included a deficiency of such significance that it appeared to the inspection team that [Sherb] did not obtain sufficient competent evidential matter to support its opinion on the Issuer's financial statements."This was for a U.S. audit, not one done in China. In the same report, Sherb responded to the PCAOB's criticisms by saying it was "dedicated to achieving the highest level of audit quality. In that regard, we feel we share the PCAOB's goal of using the inspection process as a means of improving audit quality and as a result the reliability of financial reporting."
SEC's Smart Step at Fighting China Fraud
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.