SORL Auto Parts Announces New Independent Registered Accounting Firm
ZHEJIANG, China--July 22, 2013: SORL Auto Parts, Inc. ("SORL" or "the Company"), a leading manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, today announced that it has engaged MaloneBailey, LLP ("MaloneBailey") as the Company's new principal independent registered accounting firm with immediate effect. The appointment of MaloneBailey was made by the Company's Audit Committee, acting on behalf of the Company's board of directors, on July 18, 2013.
MaloneBailey is a full-service global public accounting firm that provides accounting, audit and tax services, as well as advisory services under the rules and regulations of the IRS, the AICPA, the SEC, the PCAOB and the CPAB. Representing more than 150 publicly traded companies, MaloneBailey is one of only nine firms world-wide that require an annual inspection by the PCAOB (Public Company Accounting Oversight Board). The "INSIDE Public Accounting" newsletter named MaloneBailey as an 2012 IPA All-Star Firm.
In China, MaloneBailey employs more than 20 accountants and auditors who possess the necessary language, technical, and cultural expertise to provide services in accounting, tax and audits in China and the United States. The professionals employed by MaloneBailey in China are educated and trained in the United States and are familiar with the U.S. Generally Accepted Accounting Principles (GAAP) and U.S. Generally Accepted Auditing Standards (GAAS). MaloneBailey's China offices are located in Beijing and Shenzhen. Additionally, as a member of Nexia International, a worldwide network of independent, high quality accounting and consulting firms with 590 offices in over 100 countries, MaloneBailey collaborates with its Nexia business partners to provide high-quality services incorporating MaloneBailey's expertise in local regulations, customs and culture.
Ms. Jinrui Yu, SORL's Chief Operating Officer, commented, "MaloneBailey's professionals and its well-known experience in China as well as its focus on manufacturing and technology industries, make it well qualified to become our principal independent registered accounting firm."