(Topic ID: 117276)

Elaut USA, Inc.

By JerseyJack

9 years ago


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  • 512 posts
  • 183 Pinsiders participating
  • Latest reply 6 years ago by PinMonk
  • Topic is favorited by 16 Pinsiders

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    #17 9 years ago
    Quoted from ForceFlow:

    Most large-ish companies have a line item in their budget for legal expenses for "rainy day" scenarios. I wouldn't worry too much so long as it doesn't drag out for an extended period of time. I imagine the two companies will file a few motions back and forth, attending a hearing, and possibly get a preliminary ruling. It might end there, but if not, Then they may go back and forth some more, and either eventually drop the case, settle, or go to trial.

    A line item on the budget is one thing. Cash flow is another.

    #31 9 years ago
    Quoted from 2RustyBalls:

    Totally incorrect! As posted the accounting issues clearly hid the issues until an Audit most likely. 3 years is nothing. The Audit could have taken a year just to track down the issue. Elaut has made a very serious claim don't kid yourself. The tax issue a lone is huge, think about it.

    Audits provide assurance that the statements are reported fairly, or that the internal controls are working. They do not seek to find or detect fraud, waste, or abuse. That is forensic accounting. We don't know any of the history or details here so we really can't speculate.

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