Unregistered audits criticized
The director of the Oklahoma Accountancy Board is warning businesses not to make financial decisions from audit opinions issued by firms not registered with the state. Executive Director Randy Ross said several unregistered firms have issued audit opinions on Oklahoma-based companies. “Registered firms go through a rigorous peer review process to monitor compliance with professional auditing standards. Without such monitoring, the reliability of any audit opinion is in question,” he said. Ross said applications at banks, grants and other company business transactions may be impaired by the submission of financial statements audited by an unregistered firm.
Investor program is extended
The Investor Education in Your Workplace program in Oklahoma will be extended to 500 additional people, the Investor Protection Trust and Investor Protection Institute said Wednesday. The 10-week program, running May to August, is open to military personnel and their families, and employees within the nonprofit, education and health care sectors. Register for an informational webinar at www.ieiyw.com/webinars.
Aid OK'd for Hostess ex-employees
Employees laid off by Hostess Brands subsidiary Interstate Brands Corp. are eligible for services under the Trade Readjustment Program, the U.S. Department of Labor has ruled. Interstate Brands employees laid off after Nov. 19, 2011, are eligible. The program serves those who lost jobs or significant work hours because of increased imports or a shift in production out of the country. Services include income support, relocation and job search allowances and health coverage tax credits.
Western Gas buys one-third stake
The Woodlands, Texas-based Western Gas Partners LP said Wednesday it has agreed to buy a 33.75 percent stake in the three Pennsylvania gas gathering systems from an affiliate of Oklahoma City-based Chesapeake Energy Corp. for $133.5 million. The Larry's Creek, Seely and Warrensville gas gathering systems service the Marcellus Shale drilling production.
From staff reports