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Kingtone Wirelessinfo Solution Holding Ltd Confirms Ongoing Engagement of Independent Auditors
Apr 29, 2011 (04:04 PM EDT)
XI'AN, China, April 29, 2011 /PRNewswire-Asia-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd ("Kingtone" or the "Company") (Nasdaq: KONE), a China-based software and solutions developer focused on wirelessly enabling businesses and government agencies to more efficiently manage their operations, today announced that the Audit Committee of its Board of Directors has approved the engagement of Marcum Bernstein & Pinchuk LLP ("Marcum BP") as the Company's independent registered public accounting firm in replacement of Bernstein & Pinchuk LLP ("B&P") effective April 28, 2011.
As detailed in the Form 6-K filed by the Company today with the U.S. Securities and Exchange Commission, as a result of the joint venture agreement with Marcum LLP, B&P resigned to allow the Company to enter into a new engagement with the newly formed entity Marcum BP, which will replace B&P moving forward. Marcum BP is currently registered with the Public Company Accounting and Oversight Board (PCAOB)." The joint venture does not disrupt or alter the location of or the composition of the existing audit team working with Kingtone.
B&P had been engaged by the Company to audit its financial statements since October 2009 and provided its audit report for the Company's financial statements for the years ended September 30, 2010, September 30, 2009 and September 30, 2008. During these fiscal years and the subsequent interim period, B&P's reports did not contain an adverse opinion or disclaimer of opinion, were not qualified or modified and contained no disagreements on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.
About Kingtone Wirelessinfo Solution Holding Ltd
Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) is a China-based software and solutions developer focused on wirelessly enabling businesses and government agencies to more efficiently manage their operations. The Company's products, known as mobile enterprise solutions, extend a company's or enterprise's information technology systems to include mobile participants. The Company develops and implements mobile enterprise solutions for customers in a broad variety of sectors and industries, to improve efficiencies by enabling information management in wireless environments. At the core of its many diverse packaged solutions is proprietary middleware that enables wireless interactivity across many protocols, devices and platforms.
For more information, please visit Kingtone's website at http: www.kingtoneinfo.com. The Company routinely posts important information on its website.
SOURCE Kingtone Wirelessinfo Solution Holding Ltd.