Three sources close to corporate credit unions say the delay in releasing U.S. Central Federal Credit Union's audited 2008 annual report has nothing to do with the Kansas City corporate or the NCUA.
Instead, the holdup is the result of a standoff between New York-based auditor Deloitte & Touche and Newport Beach, Calif.-based securities analysis firm Pacific Investment Management Company.
The sources, who spoke on the condition on anonymity, said Deloitte & Touche won't sign off on U.S. Central's 2008 financial reports until it reviews PIMCO's securities review in its entirety. So far, PIMCO has not handed over the information.
Recommended For You
U.S. Central recently missed a July 10 release date for 2008′s audited financials, after originally estimating the figures would be available in May. Many corporates are delaying release of their own 2008 audited financial reports until they have U.S. Central's final numbers.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
