NQ -23.2% on auditor request, board changes

|About: NQ Mobile Inc. (NQ)|By:, SA News Editor

NQ Mobile auditor PwC has "communicated to the Company that it would need to perform additional procedures and expand the scope of its 2013 audit work." NQ's board and audit committee are considering the request.

Audit committee chair Ying Han is leaving NQ's board; the company insists her departure is "due to personal reasons not related to her role at the Company."

The board is adding two new independent directors: VC Max Yao and attorney Justin Chen. Also, Taek Kwon, the managing partner of major NQ shareholder Toro Investment Partners, has been named an adviser to the board. The company plans to add "a shareholder representative as an independent director as soon as practicable."

Prior NQ coverage