Boston, MA 07/18/2014 (wallstreetpr) – A principal international provider of mobile Internet service, NQ Mobile Inc (ADR) (NYSE:NQ), today, July 18, 2014 declared to engage Marcum Bernstein Pinchuk LLP (MBP) as the company’s independent ‘Registered Public Accountant.’
NQ Mobile Inc (ADR) (NYSE:NQ), holding tagline ‘Safeguarding your mobile world’, has discharged PricewaterhouseCoopers Zhong Tian LLP from the role of Independent Auditor. The company’s Audit Committee came up with a decision where it also revealed to hand over the prominent role to Marcum. The latter will assume the position of the company’s Independent Auditor with respect to the 2013 fiscal year and succeeding periods.
NQ Mobile Inc (ADR) (NYSE:NQ)’s Audit Committee, after discussion with PwC, substantiated that there is no disparity between PWC and the company regarding accounting principles or practices, auditing scopes or procedures and revelation of financial statement. PwC advised the company and its Audit Committee that the observations corresponded to the company’s PR describing on the Special Committee’s Independent Investigation on June 4, 2014. It concerns issues connected to electronic data accumulated by the investigation team.
The Audit Committee has considered the other procedures proposed by PwC. The latter has requested that the company delivers PwC with entry to numerous 3rd parties’ original bank statements plus financial records.
Moreover, it has also enlightened the company and the Audit Committee, based upon what it understands from the procedures carried out pursuant to its widened Audit scope, that there may be added details that it would require. The Audit Committee has derived that PwC’s advised procedure may pose a risk for the company with respect to its obligation to lodge its Form 20-F for 2013.
Marcum LLP and MBP, jointly, are the prime 10 SEC practise accounting firms in the U.S. Also, it is a registered PCAOB member firm. The Audit Committee has complete trust in their competency to perform the work meticulously, autonomously and swiftly.
