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 China Power Equipment (OTC BB:CPQQ)

Wednesday, May 5, 2010

China Power Equipment recently announced that it has upgraded to "Top Auditing Firm Mazars."

In the body of CPQQ's PR, we learn that the company upgraded specifically from ACSB to Mazars CPA Limited, a Hong Kong affiliate of Mazars.  A cursory look at other names that Mazars CPA Limited audits raises questions as to whether this was much of an "upgrade." 

If CPQQ wanted to upgrade, why would they upgrade to *this* auditor?  And why would they upgrade now, right in the middle of audit season?  One possibility is that they were having problems passing their current audit with ACSB.  The company claims that is not the case.

Read the full message board post on the subject here.