The resignation of an auditor can be a critical and highly publicised event with serious ramifications for the company, those associated with it and the auditor himself. Resignation, particularly in controversial circumstances, can expose auditors to various risks, including the risk of litigation from creditors, investors and the company.
RJ87 is correct. Lack of volume in this counter can skew the price greatly. Not reflective of the company's intrinsic value. Plus, the auditor resignation is not controversial since it's linked to differences over fees. Just be patient and hold, should definitely rebound. Fundamentals still very much intact.
@Natu Rai it is also the law that should an audit resign due to extraordinary circumstances (questionable accounting practices etc) it is their duty and responsibility to release a statement informing the bourse that as to the exact reason of their resignation so that creditors, shareholders and the public are aware of the circumstances. Failing to do so makes them liable for prosecution if the future auditors find discrepancies in the books that went unreported.
So don't come here spreading fear, uncertainty and doubt. Get your facts straight first. I think a lot of people don't understand the nature of these announcements and immediately assume that something is amiss. I think management's statement was very clear. Remember that they will also be held liable if they make a public announcement stating one reason that conflict with the auditor's announcement (made only if the resignation was due to extraordinary circumstances).
Don't always think go up only. If you got 5million stock to sell later the price can also easily from 80cents drop to 50cents when you unload all. Becareful.
US market crashed !! Recession started since ever I called to run! You think now is funny ? Many ppl calling and meeting me for help. I say better let bangkali or saiful push better
Dow Jones... always a benchmark for world equities markets...China haven't reach this level...still very skinny... hahaha...Well for earnings growth prospects company... people will analyse its earnings revisions for the next quarters...n decide for themselves. Nothing is perfect... everything is assumption n probability...its products or services...its Sustainability...plus management efficiency...Be very flexible n keep on changing to suit markets trends n sentiments. MOAT can be destroyed... nothing is forever in business ventures... don't fall in love with your Buy...love your wife n children...n those who gave you so much care before... Everything needs to be returned...you can't bring along...when the time comes...TQ.
Aiyah... supermarket big bargains...people Q...to Buy...very early in d morning...But stock market bargains...people are worried n scared...n sleep... ZzzZzzZzz...???
Hahahahaha...damm happy...this is what happens in panic sell...fundamental hasn’t change but do selldown...if price attractive I sapu...if sell now, I collect 10% return in a morning...
What... surprised...!!!...warrant is a better option...since company don't pay much dividend n already issued bonus for warrant... percentage of capital gains can be more rewarding than mother share...at present moment...TQ.
Hahaha...we shall see...2morrow...But don't be too... Greedy...set your target...at least take back half of your capital...n Standby your Bullets...a lot of chances...if you're prepared n optimistic...GL.
Hahaha...all Red...from DJ yesterday...till 4+ hrs backwards...all markets red...like April 4... recently...very afraid lah...Holloween is coming to town...you are not fearful...wait after 10pm you check whether... it's your days ahead... hehehe...!!!
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Natu Ral
176 posts
Posted by Natu Ral > 2018-10-10 09:18 | Report Abuse
The resignation of an auditor can be a critical and highly publicised event with serious ramifications for the company, those associated with it and the auditor himself. Resignation, particularly in controversial circumstances, can expose auditors to various risks, including the risk of litigation from creditors, investors and the company.