Q: Payfare is currently under a CTO as (quoted from their press release):
"The delay in the Annual Filings is due solely to the delay in receiving the System and Organization Controls (" SOC 1") auditor's report from its material vendor (the " Vendor ") which is required in order for the Company's independent auditors to complete their required audit procedures to issue their opinion"
How much of a concern or potential red flag do you view this to be?
Thanks
"The delay in the Annual Filings is due solely to the delay in receiving the System and Organization Controls (" SOC 1") auditor's report from its material vendor (the " Vendor ") which is required in order for the Company's independent auditors to complete their required audit procedures to issue their opinion"
How much of a concern or potential red flag do you view this to be?
Thanks
5i Research Answer:
It is possibly not as bad as investors think, as this news has been misinterpreted each time an...