VADODARA, India, Sept. 22, 2017 /PRNewswire/ -- Bharat Parikh
& Associates (the "Firm") today responded to Key Tronic
Corporation's (NASDAQ: KTCC) allegations contained in the news
release dated September 15,
2017 and titled, "Key Tronic Corporation Comments on Cemtrex
Release," regarding the Firm and its audit of the financials of
Cemtrex Inc. (NASDAQ: CETX).
The Firm responds to Key Tronic's maligning allegations as
follows:
- Key Tronic's skepticism of the accuracy of Cemtrex's reported
financial information is self-serving in nature and baseless. Key
Tronic Corporation needs to consider the global business
environment before making allegations about our internationally
reputed firm. The Firm is recognized, registered and in good
standing with PCAOB as a "Non-US" Public Accounting firm. The Firm,
just like any other PCAOB registered firm, follows the same
standards, rules and guidelines as issued by the PCAOB and SEC to
perform any public company audits in USA whether a smaller
reporting company or a large filer
- The firm since its inception 3 decades ago has performed
multiple US GAAP and IFRS Audits of globally located private and
public companies and has remain in good standing with the
professional regulatory body ICAI without receiving such
allegations before.
- The Firm is a Category-I Registered Chartered Accounting firm
with Reserve Bank of India
- The Firm has a diversified client base and wide audit
experience of various companies, including banking and insurance
companies, and government and semi-government organizations. Also,
of note, is the Firm's experience of conducting "Special Audits",
which are governed by the World Bank
- The Firm is also a registered Peer Reviewer with the ICAI's
"Peer Review Board" and is authorized to peer review any firm
including the multinational public accounting firms as allotted by
the ICAI
"Key Tronic's publicly made allegations against our firm are
false, unsubstantiated and defamatory in nature. Furthermore, these
allegations are made with an intention of harming our global
reputation by questioning the accuracy of our audit practice and
the audited financial statements of our client, Cemtrex Inc."
stated CA Bharat Parikh, the Senior Managing Partner.
About Bharat Parikh & Associates
Bharat Parikh
& Associates holds a global presence, with a varied client base
across multiple locations and industries. The Firm has many
registrations, certifications and empanelment's in place, including
empanelment with The Comptroller Auditor General of India & a registered Information System
and Security Auditor with ICAI. For more info, please visit
www.bpaca.com
Contact for Bharat Parikh & Associates Chartered
Accountants:
Mailing Address: - (HQ) 509 Shri Ram Chambers, R.C.Dutt Rd, Alkapuri, Vadodara-7, GJ,
India.
Email: - info@bpaca.com
(O): - +91-265-2338755
View original
content:http://www.prnewswire.com/news-releases/bharat-parikh--associates-responds-to-key-tronic-corporations-allegations-300524293.html
SOURCE Bharat Parikh & Associates