Originally posted by Chao88:
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Hi Mike, unfortunately this is the risk when you purchase shares in a company which is not domiciled in on the local exchange.
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I'm not sure if the auditors should get off that lightly. If they verify accounts as valid, do they have a liability if the accounts are invalid as is almost certainly the case here? Or is an auditor allowed to simply accept a fraudulent bank statement as real without further investigation...or consequences?
Reaper
