PR Newswire, 4/19/12
Zhengzhou-based set-top box provider ZST Digital Networks (Nasdaq: ZSTN) today issued an update to investors on the resignation of ZST's auditor, BDO China Dahua, CPA. As previously announced, ZST Digital and BDO China, the company's former auditor, had a disagreement over an audit procedure during the fiscal year ended December 31, 2011. Despite its best efforts to cooperate in full with the auditor, the company was not able to reach a consensus with BDO China. As a result, BDO China effectively resigned as the company's auditor on March 26, 2012, and the company was unable to submit its annual report for the year ended December 31, 2011 on schedule.
Editor's Note: For more background on this topic, please see "ZST Digital Networks to Voluntarily Delist from Nasdaq" MD 4/09/12 issue.