AFR article, page-31

Regarding the red flag comment about the change of auditors contained in Jonathan Shapiro's article in the AFR.

I was at the AGM held in 2016 in the little lawyers office in Market St,Sydney, and a shareholder did ask the question at that AGM as to any reason why the incumbent auditor was retiring. Inconvenience of distance, if I recalled correctly, was the answer. The retiring audit partner from PKF Melbourne further affirmed, over the phone, that there was no sinister reason for their retirement.
The same shareholder then asked if the incoming auditors, Rothsay, was given approval by ASIC, to act as the new auditor. The meeting was duly informed that ASIC approval was given for Rothsay's appointment.

For the AFR senior journalist to then suggest that a change of auditors is a red flag, in this case, is absolute rubbish, unless he can come up with the real reason for the change of auditors. (Has he even heard of rotation of auditors which major multinationals and banks do?)

I have faith in the partner of the retiring audit firm confirming that there was no sinister reason, and ASIC, who will want to know the real reason for the retirement, giving its approval.

BIG may or may not do well now or in the future, but the assertion about the red flag in the BIG article by Johnny Shapiro cannot go unchallenged.