Friday, July 18, 2014

NQ Mobile Switches Auditors

NQ Mobile, the mobile Internet services provider which serves China, but has its headquarters in Dallas, reported today that it has named Marcum Bernstein Pinchuk LLP as its new auditor. The company said it has dismissed PricewaterhouseCoopers Zhong Tian LLP (PwC) as its auditor, effective immediately. The move comes as the company has been hit by massive fraud allegations around fabrication of revenue numbers, and a subsequent investigation. NQ Mobile said the move was not the result of a disagreement between the company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. However, NQ Mobile took issue with PWC's recommendations around an independent investigation into those fraud allegations.