Sorry, I don't know how to eliminate the Bold. This does not look good from any angle. It does not say there is no issue, it says there is no issue since Apr 09. There is no outiside the company audit since then either. They didn't bother to tell us either. I dug it up on the TSX. Anyone?
NOTICE OF CHANGE OF AUDITOR
GOLDEN CHALICE RESOURCES INC.
(the “Company”)
TO: MacKay LLP
AND TO: Morgan & Company
AND TO: British Columbia Securities Commission
Alberta Securities Commission
TSX Venture Exchange
AND TO: All Holders of Common Shares in the Capital of the Company
Please be advised that at a meeting of the Company’s Board of Directors held on July 29, 2010, the
Company decided to change auditors from MacKay LLP and approved the appointment of Morgan &
Company effective July 29, 2010.
The Company reports that there have been no reservations in the auditor’s reports of MacKay LLP for
the financial year ended April 30, 2009 or for the period from the Company’s date of incorporation, April
20, 1982 to April 30, 2009 reported on by MacKay LLP and, in the opinion of the Company, there have
been no “reportable events” (as defined below).
For the purposes of this notice, National Instrument 51
‐102 – Continuous Disclosure Obligations (“NI 51
‐
102”) states that a “reportable event” means a disagreement, a consultation, or an unresolved issue
between the Company and its former auditor, MacKay LLP. Disagreement, consultation or unresolved
issue are defined in NI 51
‐
102 as follows:
“
disagreement
” means a difference of opinion between personnel of a reporting issuer
responsible for finalizing the reporting issuer’s financial statements and the personnel of a former
auditor responsible for authorizing the issuance of audit reports on the reporting issuer’s financial
statements or authorizing the communication of the results of the auditor’s review of the reporting
issuer’s interim financial statements, if the difference of opinion
a) resulted in a reservation in the former auditor’s audit report on the reporting issuer’s
financial statements for any period during the relevant period;
b) would have resulted in a reservation in the former auditor’s audit report on the
reporting issuer’s financial statements for any period during the relevant period if the
difference of opinion had not been resolved to the former auditor’s satisfaction, not
including a difference of opinion based on incomplete or preliminary information that
was resolved to the satisfaction of the former auditor upon the receipt of further
information;
c) resulted in a qualified or adverse communication or denial of assurance in respect of the
former auditor’s review of the reporting issuer’s interim financial statements for any
interim period during the relevant period; or
d) would have resulted in a qualified or adverse communication or denial of assurance in
respect of the former auditor’s review of the reporting issuer’s interim financial
statements for any interim period during the relevant period if the difference of opinion
had not been resolved to the former auditor’s satisfaction, not including a difference of
opinion based on incomplete or preliminary information that was resolved to the
satisfaction of the former auditor upon the receipt of further information;
“
consultation
” means advice provided by a successor auditor, whether or not in writing, to a
reporting issuer during the relevant period, which the successor auditor concluded was an
important factor considered by the reporting issuer in reaching a decision concerning
a) the application of accounting principles or policies to a transaction, whether or not the
transaction is completed;
b) a report provided by an auditor on the reporting issuer’s financial statements;
c) scope or procedure of an audit or review engagement; or
d) financial statement disclosure;
“
unresolved issue
” means any matter that, in the former auditor’s opinion, has, or could have, a
material impact on the financial statements, or reports provided by the auditor relating to the
financial statements, for any financial period during the relevant period, and about which the
former auditor has advised the reporting issuer if
a) the former auditor was unable to reach a conclusion as to the matter’s implications
before the date of termination or resignation;
b) the matter was not resolved to the former auditor’s satisfaction before the date of
termination or resignation; or
c) the former auditor is no longer willing to be associated with any of the financial
statements.
Dated at Vancouver, British Columbia, this 29
th
day of July 2010.
BY ORDER OF THE BOARD
GOLDEN CHALICE RESOURCES INC.
By:
/s/ “Stephen Pearce
Stephen Pearce, Chief Financial Officer
