OKLAHOMA CITY, Aug. 24, 2011 (GLOBE NEWSWIRE) -- QuiBids.com, the nation's leading online entertainment retail auction site, has completed and released the results of its internal controls audit.
QuiBids subjected itself to an internal controls audit with Grant Thornton earlier this spring. CEO Matt Beckham believes the release of its internal control audit will help to assure consumers of the business standards QuiBids has set for the entertainment retail auction industry.
QuiBids is the first entertainment retail auction site, however, its origins are derived from the penny auction industry which some have questioned regarding the potential of automated bidding systems or shill bidders deployed by site operators to affect the outcome of auctions. The internal controls audit completed by Grant Thornton states that "QuiBids maintains effective controls to provide reasonable assurance that bids are placed by bona fide users and does not manipulate the bidding process to inflate the bid price or affect who wins the auction (no use of bots, shill bidding or bidding by employees)". Also asserted is that QuiBids ships products to auction winners and to those that use the popular "Buy Now" feature on the site.
The entertainment retail auction industry offers consumers the chance to get new popular products for deep discounts while having a fun and entertaining experience. When a consumer chooses to participate on QuiBids, he or she can rest assured of the integrity of the site.
About QuiBids
QuiBids is the nation's largest entertainment retail auction site of its kind. Its mission is to redefine shopping by providing the best deals possible for its customers with a unique, fun and exciting online experience. Become a fan of QuiBids on Facebook for company updates and promotions.
Contact Information
Jill Farrand
Ph: 405-253-3883
Email: jfarrand@quibids.com
This information was brought to you by Cision http://www.cisionwire.com
http://www.cisionwire.com/quibids/r/quibids-completes-internal-controls-audit,c9153852
The following files are available for download:
| wkr0001.pdf | Description... |
| wkr0006.pdf |