Sedania Innovators said it had received a notice in writing from BDO on their resignation as External Auditors of the company with effect from January 2024.
The group said BDO was re-appointed as the External Auditors of the Company at the Ninth Annual General Meeting of the Company held in May 2023 to hold office until the conclusion of the next AGM of the Company.
The Sedania Board said it is of the view that it is timely to effect a change of external auditors since BDO has been the External Auditors of the company for the past nine years. It also said that it is widely acknowledged that a rotation of auditors after an appropriate period is a sound corporate practice.
The board said the rotation would also enable the company to benefit from fresh perspectives and views of another professional audit firm and hence, would enhance the value of the audit and audit deliverables of the company, moving forward. The resignation of BDO is based on mutual consent of both parties.
Management of Sedania said it has commenced the process of identifying new external auditors in place of BDO and will make the relevant announcement in due course.
