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Orefinders Discloses Potential Conflict of Interest between Mistango's CFO and Independent Auditor
Orefinders Discloses Potential Conflict of Interest between Mistango's CFO and Independent...
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[{"type":"text","content":"\n\n\n\nOrefinders Discloses Potential Conflict of Interest between Mistango's CFO and Independent Auditor\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 12, 2019\n\n\n\nTORONTO, June 12, 2019 /CNW/ - Orefinders Resources Inc. (\"Orefinders\" or the \"Company\") (TSX.V: ORX) discloses that, during the course of its due diligence on Mistango River Resources (\"Mistango\") (MIS:CSE), it has identified concerning and unexplained issues related to Mistango's finances and its 2018 Audited Financial Statements including what may be a conflict of interest between Mistango's CFO, Carina Da Mota, and its independent auditor Kreston GTA LLP ('Kreston GTA'). \nOrefinders concerns are rooted in the following circumstances: On April 29, 2019, one day prior to the filing deadline for Mistango's audited Annual Financial Statements, Mistango filed on SEDAR a notice of resignation dated April 17, 2019 of its long-standing auditor, Palmer Reed, and the appointment of Kreston GTA as its new auditor. One day later, on April 30, 2019 Mistango released its 2018 Annual Financial Statements and accompanying MD&A signed off by Kreston GTA. \nThe potential conflict of interest arises from Mistango's CFO, Ms. Da Mota, simultaneously being employed by accounting firm Parker Simone LLP ('Parker Simone') as its Managing Director, while both Parker Simone and Kreston GTA are member firms of Kreston International Limited's network. \nOrefinders raised this issue with Mistango's Board of Directors, Ms. Da Mota and Kreston GTA in a letter on May 6, 2019 and in subsequent enquiries, but has yet to receive any explanation. Orefinders is questioning how these interconnected relationships can provide Mistango's shareholders an independent and external audit. Should Mistango continue to deny any explanation, Orefinders would expect the appropriate securities regulators and professional organizations to begin an investigation. \nCPA Ontario's Code of Professional Conduct Section 204.4 states, 'Serving as an officer or director of a reporting issuer or listed entity audit c...