Make sure to protect your profits well.
$Super Micro Computer (SMCI.US)$ List a few key points for everyone to consider: 1) nasdaq has not approved the application yet 2) Can BDO complete the audit within the extension plan, if not, can it continue to be extended 3) Will BDO resign like EY? (According to the US audit rules, BDO must charge a fee even if the audit is unsuccessful) 3) Will the BDO review process involve changes to previous 10Q or 10K reports? 4) Can BDO eliminate the accusations in the short-selling reports? Will PCAOB and SEC conduct further investigations? After all, if the contents of the short-selling report are true, it does violate US accounting standards, and BDO will also be implicated. I hope everyone will protect their profits well when trading in the short term.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
乘風起扶搖上 : Thank you
72957079 : The dog is barking again.
玄学炒股的美股韭菜 72957079 : Aren't you shorting?
70911613 OP : I do not hold any SMCI stocks, nor do I go long or short. I have been working in the auditing industry for 16 years, understanding the auditing process. Just a reminder for everyone to protect profits when trading short-term, especially during high volatility. These key points are all periods of high volatility, so it is better to wait until these hurdles are cleared before considering long-term investments.
Umami66 : BDO won't take on something and quit midway. They are taking on a customer that EY dropped to prove something. At this point, the gain or loss in reputation far outweighs the "little money" they stand to make off this single transaction.
They can modify and file however they like because this is the first(late) submission. As long the single final submission is accurate, SEC will not care about their 99 revisions in the office.
SYHs Umami66 : 如果supermicro 同意修改，安永不會離職
70911613 OP Umami66 : BDO is a sure-win situation. 1) Issuing an audit report, surpassing the Big Four. 2) Even without the report, at most on par with the Big Four, telling the public that their risk control is comparable to the Big Four. The only variable is whether the PCAOB will review their audit working papers and uncover issues. If issues are found, BDO will also be affected. So, rather than saying BDO is helping clients, it is actually dealing with the PCAOB's scrutiny. BDO strictly controls this activity, involving more than just a couple of partners. Furthermore, based on US auditing standards, BDO is definitely making enough fees, regardless of the outcome. This time, BDO took this on not for profit, but for the sake of their reputation. They might self-proclaim, or be referred to by SMCI as one of the top five, but in the industry, there are only the Big Four, so the debate over the fifth is common.
72957079 玄学炒股的美股韭菜 : I have been shouting for everyone to charge!