Hi Henry,

We proactively get audited by Ernst & Young, to provide proof that there are no fake bidders on our website. All the bids are placed by real customers. As far as the reviews go, these also come from real DealDash customers, and have not been paid for.

As always, I remain willing to answer any other question or doubt you may have.

Sincerely,

Adrian
DealDash Community Manager

I am confused by this. You can see the action without purchasing anything. When you want to bid then YOU are required to purchase a bid pack. For this you are charged. When you win an auction, you pay the final price or swap it for more bids. If you don't want to input your Credit info, USE PAYPAL.

Henry, I totally agree with you that the so called 'audit' is completed bogus because, guess what? IT ISNT AN AUDIT AS STATED EXPLICITLY IN THE ACTUAL REPORT.

This is the response I wrote to deal dash when they threw said "audit" report at me as proof that all their dealings are on the up and up.

RESPONSE TO DEALDASH

As an auditor myself, who has frequently had the pleasure of interacting with Ernst & Young, the following stand out to me.
1. This is NOT an audit report. It states clearly that the records of deal dash were EXAMINED, not AUDITED. Audit reports usually start with "we have audited"- not the case in this report.
2. Further, the report is entitled "Report of Independent Accountants" an audit report would be entitled "Independent AUDIT Report"- not the case here. The report also states that the assurance provided was LIMITED whereas a full audit provides REASONABLE ASSURANCE that there is no material error or misstatement.
3. Furthermore, the "examination" was conducted in accordance with ISAE 3000: "Assurance Engagements OTHER THAN AUDITS... so clearly not an audit. Audit reports are robust statements that assure the reader that the auditor has evaluated the appropriateness of the entity's accounting policies- to prevent fraud or error in presentation. No such assurances were made in this report.
4. This report stated that the selection procedures followed were HAPHAZARD, which is an acceptable method of sample selection but This means that the records examined were not the result of selecting a statistical sample where every item has a known probability of selection. The samples examined here are very subjective, not random so how is the reader to be assured that DEALDASH did not simply hand the "examiners" NOT AUDITORS" a self selected sample that would support DEALDASH'S claims?

Needless to say, the report DEALDASH is tossing around as an audit report leaves a great deal to be desired. I personally, would not put much stock on it.