Skystar Bio-Pharmaceutical Company Ltd., on behalf of its parent, manages a biopharmaceutical research, development, and production business. The Company produces veterinary drugs, fodder additive, and microorganism preparation products.
The Company’s Form 8-K filed on October 23, 2015 reported the Audit Committee’s determination that a low level employee had falsified bank documents relating to one bank account, which were then provided to the auditors by other Company personnel who were unaware of the falsehood. The independent auditors, Crowe Horwath, resigned after the company was unable to arrange visits, provide documents and information regarding internal control of the company.
The company was delisted on 4 Mar 2016.
Skystar Bio-Pharmaceutical: 2010 Annual Report, 11 Apr 2011
Crowe Horwath (Former auditors of the company): Letter to Skystar Bio-Pharmaceutical, 31 March 2016