Gulf Resources Retains Deloitte for an Internal Controls Assessment

Published Sep 10th, 2010

NEW YORK and SHANDONG, China, Sept. 10 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (Nasdaq:GFRE - News) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that the Company has engaged Deloitte Touche Tohmatsu ("Deloitte") to perform an independent assessment over the Company's internal controls.
 

The objective of Deloitte's engagement is to assist the Company with an independent assessment of the managerial, operational and internal controls of the Company. The independent assessment will cover the areas of the Company's Corporate Controls, Anti-Fraud Program, Financial Reporting and Disclosure Controls. In addition, Deloitte will provide suggested recommendations to improve any internal control weaknesses if identified.
 

"The engagement of Deloitte is a testament of the management's commitment to strict internal control and proper financial reporting. It will significantly help us to embrace good governance and ensure the full compliance with the requirements of the Sarbanes-Oxley Act," said Mr. Xiaobin Liu, Chief Executive Officer of Gulf Resources. "We hope the engagement will enhance shareholder confidence in Gulf Resources as we continue to commit to best practices in corporate governance."