Accounting Firm Denies Claims by American Dairy Inc.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm -- Murrell, Hall, McIntosh & Co., PLLP PLLP Professional Limited Liability Partnership (business operating entity) (MHM MHM Machinery Health Management MHM Metal Heads Mission (music festival) MHM Members Helping Members MHM Mill Hill Missionaries (religious order) MHM Multiplexed Hierarchical Modeling ) denied claims by American Dairy Inc. (ADY) that it dismissed MHM for lack of independence. MHM stated the facts do not support American Dairy's claims and noted American Dairy was previously required under a note indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. to change its auditor. MHM had encouraged an earlier transition to a new auditor. MHM acknowledged the SEC independence inquiry, which relates to the audit involvement of Henny Wee & Co., a Chinese auditor separately engaged by American Dairy for fieldwork. MHM stated that American Dairy had known about the SEC's independence concerns since 2005. To address those concerns, MHM offered to conduct the 2005 audit without Henny Wee's involvement. After the SEC inquiry opened earlier this year, MHM offered to re-audit the 2004, 2005 and 2006 financial statements without Henny Wee's involvement. American Dairy declined both offers. MHM is cooperating in the SEC inquiry and believes that it has fully complied with applicable independence standards. The SEC has made no determination. About Murrell, Hall, McIntosh & Co., PLLP Murrell, Hall, McIntosh and Co., PLLP is locally owned with offices in Norman and Oklahoma City. Since 1973, MHM has been providing its clients in local and national markets with accounting, audit, tax and business consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . |
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