LONDON - Oberon AIM VCT plc, a London-based venture capital trust, has announced a change in its auditor. The move comes after the resignation of Moore Kingston Smith LLP, the company's former auditor, which cited reduced capacity to complete audits for Public Interest Entities as the reason for its departure.
In a statement required by Section 519 of the Companies Act 2006, Moore Kingston Smith LLP explained that the resignation was prompted by the departure of Mr. Mital Shah, the partner who served as Responsible Individual for Oberon AIM VCT's audit. The firm emphasized that maintaining the quality of their audit services necessitated the resignation due to their reduced capacity.
The company has confirmed that there are no circumstances related to the auditor's resignation that need to be brought to the attention of its members or creditors. The change of auditor is a procedural event and does not reflect on Oberon AIM VCT's financial position or business practices.
The announcement, made on October 29, 2024, is a standard compliance measure to inform the company's stakeholders of the changes in its auditing arrangements. The venture capital trust will now seek to appoint a new auditor to fulfill its statutory audit requirements.
This change in auditor is a common occurrence in the business world and does not necessarily indicate any underlying issues with the company's financial statements. The information is based on a press release statement from Oberon AIM VCT plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.