Good find BOW!

The problem with the auditor, Ernst & Young, is that they only audit the financials at per say, face value. This means that the info supplied by management is whats looked at, to see if it adds up as a whole. The individual components in any financial, such as individual receipts, are never examined or audited, and are taken by the auditor in good faith, unless a forensic or investigative audit takes place. In actuality, an auditors duty is really worthless, whereas any crime can be hidden in the roots and not discovered, the information an auditor deals with, is only as good as the supplier. In crooked companies, the suppliers know this and they know how to manipulate and allign entries, so that they add up. This is where fraud is discovered, usually not from the financials that are publicly displayed. But I will add here, that if a corrupt company over time, extends it corruption outside of the column structure of the financials, its where things will get out of whack and will not stand up under closer scrutiny, because one little thing years ago, may grow and effect the financials in later years, becoming more apparent.

I will say here that I am not implying any wrong doing by SLI, only commenting on the audit proceedure in general, and problems that exist with this type of supposed control and assurance of accuracy in financials. Sino Forest would be a great example here of what I am commenting upon.