| Deloitte | 20-Dec-21 | 13-Dec-24 | | Deloitte refers to its letter to the audit committee and the Board dated October 24, 2024 in relation to the Matter and its communication with the Company on October 31, 2024 regarding its proposed audit fee adjustment. As of the date of letter of resignation, Deloitte understands that the investigation into the Matter has been ongoing for a period of time and all necessary investigative procedures have yet to be completed. That said, it is also understood that a draft investigation report has been made available to the Chairperson of the Investigation Committee in September 2024. On October 24, 2024, Deloitte wrote to the Audit Committee and the Board requesting, amongst other things, a copy of the draft investigation report. As explained by Deloitte, it is the responsibility of Deloitte as auditor to fully understand the nature, investigative procedures and findings to date of the Matter, and to evaluate its impact on the nature, timing, and extent of its planned audit procedures for the audit of the consolidated financial statements of the Group for year ending December 31, 2024. In addition, on October 31, 2024, Deloitte further notified the Company of a proposed fee increase due to its anticipation of additional audit work regarding the Matter. Despite Deloitte’s subsequent continuous communication with the Company following up on its requests set out in its letters of October 24, 2024 and October 31, 2024, as of the date of letter of resignation, Deloitte has received no tangible response from the Company. Deloitte has concluded the inaction of the Company has caused its professional relationship untenable. In addition, the Company informed Deloitte that the Company decided to appoint another firm of auditor to replace Deloitte as auditor for the 2024 Audit as the Company and Deloitte cannot reach an agreement on the audit fee in respect of the 2024 Audit. After careful consideration, Deloitte has decided to tender its resignation as auditor of the Company. |
