Another anomaly: the Inspectorate (Singapore) Pte Ltd report dated 31 January 2023, and the Bureau Veritas Italy report dated 23 January 2023, have conclusions that are letter-for-letter identical except for the auditor's identification and date.
This seems strange for reports prepared by different entities in different countries.
It is not a case of having a single report template, because the report for Bullion Star dated 29 September 2022 is different.
[Edit: it is particularly noticeable due to the grammatical error "our finding does in no way relief" which I point out not to criticize it as such, but rather that it is unexpected that the same error would occur in unrelated reports.]
Vault Storage Provider: Site i.e Malca-Amit, Zurich
1. PLACE OF INTERVENTION:
Site i.e Malca-Amit
That's a strange way to express the location.
Page 11:
"Audited By" is hidden for some reason.
The same or very similar conclusion is used on many pages. Maybe that's normal? However, on page 39, they corrected the typo "relief" Whatever the case, the bar for written English seems pretty low at Bureau Veritas UK. You said "I point out not to criticize it", but why not? It seems perfectly acceptable to criticize those types of mistakes because all the reports are signed by Bureau Veritas UK. Can we not expect proper spelling and grammar on an official report from a company based in an English-speaking country? Either way, you are correct that it is strange to have copied the exact same error over to a report apparently written in Singapore.
Page 6:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 19th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 10:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 19th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 23:
Inspectorate (Singapore) Pte Ltd conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 28:
Inspectorate (Singapore) Pte Ltd conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 18 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Lt
Page 31:
Bureau Veritas conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 39:
Bureau Veritas concludes that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17/01/2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience, ability and our finding does in no way relieve concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 57:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 18th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Here is another anomaly I just noticed thanks to you. There are three reports from Inspectorate (Singapore) Pte Ltd, starting on pages 14, 24, and 29. Their conclusions are very similar, but the first two say "Inspectorate (Singapore) Pte Ltd conclude that" while the third says "Bureau Veritas conclude that".
"Bureau Veritas conclude that" is another grammatical error, isn't it? It should be "concludes" or "concluded," shouldn't it?
Another anomaly: the Inspectorate (Singapore) Pte Ltd report dated 31 January 2023, and the Bureau Veritas Italy report dated 23 January 2023, have conclusions that are letter-for-letter identical except for the auditor's identification and date.
This seems strange for reports prepared by different entities in different countries.
It is not a case of having a single report template, because the report for Bullion Star dated 29 September 2022 is different.
[Edit: it is particularly noticeable due to the grammatical error "our finding does in no way relief" which I point out not to criticize it as such, but rather that it is unexpected that the same error would occur in unrelated reports.]
Good eye. Did you find anything else?
Page 3:
Vault Storage Provider: Site i.e Loomis, Zurich
1. PLACE OF INTERVENTION:
Site i.e Loomis
Page 7:
Vault Storage Provider: Site i.e Malca-Amit, Zurich
1. PLACE OF INTERVENTION:
Site i.e Malca-Amit
That's a strange way to express the location.
Page 11:
"Audited By" is hidden for some reason.
The same or very similar conclusion is used on many pages. Maybe that's normal? However, on page 39, they corrected the typo "relief" Whatever the case, the bar for written English seems pretty low at Bureau Veritas UK. You said "I point out not to criticize it", but why not? It seems perfectly acceptable to criticize those types of mistakes because all the reports are signed by Bureau Veritas UK. Can we not expect proper spelling and grammar on an official report from a company based in an English-speaking country? Either way, you are correct that it is strange to have copied the exact same error over to a report apparently written in Singapore.
Page 6:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 19th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 10:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 19th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 23:
Inspectorate (Singapore) Pte Ltd conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 28:
Inspectorate (Singapore) Pte Ltd conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 18 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Lt
Page 31:
Bureau Veritas conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17 January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 39:
Bureau Veritas concludes that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on the 17/01/2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience, ability and our finding does in no way relieve concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Page 57:
Pietro Vezzosi conclude that the information provided to it being the vaulting provider’s inventory report, ABX’s Vault Management System and physical holdings audited on 18th January 2023 all reconcile.
We hereby report that the above inspection is based on our findings/observations at the time and place indicated above only and does not refer to any other matters.
This inspection has been carried out to the best of our knowledge, conscience and ability and our finding does in no way relief concerned parties from their contractual liabilities.
For and behalf of,
Bureau Veritas Commodities UK Ltd
Here is another anomaly I just noticed thanks to you. There are three reports from Inspectorate (Singapore) Pte Ltd, starting on pages 14, 24, and 29. Their conclusions are very similar, but the first two say "Inspectorate (Singapore) Pte Ltd conclude that" while the third says "Bureau Veritas conclude that".
"Bureau Veritas conclude that" is another grammatical error, isn't it? It should be "concludes" or "concluded," shouldn't it?
Looks like some hard work you put in there. Why did you not warn before FTX happened ?