ORLANDO, Fla., March 4, 2011 (GLOBE NEWSWIRE) -- RedChip Companies, Inc. ("RedChip"), an international, small-cap research and financial public relations firm, and Ernst & Young, one of the Big Four accounting networks, today announced a free joint seminar on the accounting and auditing risks faced by U.S.-listed public companies. The seminar will take place at 4:00 p.m. local time on Monday, March 7, 2011, at the Radisson Hotel Shanghai New World in Shanghai, China.
Topics to be discussed include the advantages of engaging one of the Big Four, the four largest accountancy and professional services organizations in the world. The seminar will also address the financial costs associated with retaining a Big Four member firm. Attendees will have the opportunity to meet one-on-one with senior auditors from Ernst & Young.
Barron Partners LP, a private investment fund, observed that U.S.-listed Chinese companies that traded at a higher price-to-earnings (P/E) ratio (averaging 28.8) in 2010 used a Big Four member firm as auditor, while those that traded at a lower P/E (averaging 5.0) did not use a Big Four member firm.
Ernst & Young provides assurance, tax, transaction and advisory services to clients worldwide. Ernst & Young's audit client base includes well-known publicly traded companies such as The Coca-Cola Co., Lockheed Martin Corp., Google Inc., FedEx Corp., and Target Corp.
RedChip represents 34 clients from 7 countries, including 25 clients from China that use all or part of the RedChip platform of services. RedChip's China clients include Longwei Petroleum Investment Holding Ltd. (NYSE:LPH), L & L Energy, Inc. (Nasdaq:LLEN), Shiner International, Inc. (Nasdaq:BEST), China Bilingual Technology & Education Group, Inc. (OTCBB:CBLY), and China Chemical Corp. (OTCQB:CHCC).
Seating is limited and will be reserved on a first-come, first-served basis. To register to attend, call 1-800-REDCHIP or email info@redchip.com.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research™, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV™, Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio™. To learn more about RedChip's products and services, please visit: .
"Discovering Tomorrow's Blue Chips Today"™
The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
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CONTACT: RedChip Companies, Inc. Tel: 1-800-RED-CHIP (733-2447) Email: info@redchip.com Jing Zhang, Chief Representative RedChip Companies Beijing Office Tel: +86-10-8591-0635 Web: http://www.RedChip.com Tracy Cui, Communications Manager Ernst & Young Shanghai Tel: +86-21-2228-2247 Email: tracy.cui@cn.ey.com