HIL 0.00% 2.3¢ hills limited

What! What Company changes Auditors in the middle of a half year...

  1. 305 Posts.
    lightbulb Created with Sketch. 25
    What! What Company changes Auditors in the middle of a half year or full year audit. The normal process would be to change during other times in the year allowing a smooth transition and the new Auditors to do a review of processes and procedures and to do a preliminary audit of key controls and reporting processes prior to a major result being announced.
    I am going to address the apparent contradiction in this release first. Firstly we have KPMG resigning effective immediately but also the Board appointing new Auditors to save money. If that were the case it wouldn't be done in the middle of an audit.
    My opinion is that KPMG and Hills were in conflict as to the results to be reported, HIL even said to avoid conflict was part of the appointment.
    In my opinion again this just reinforces the terrible state of HIL finances. I hope Moores are no less forceful in what they need reported.
    This an extremely unusual change at this time of the year and seemingly quite quick.
    Can't wait for the half year results which again I am sure will be held back until the 28th February (as normal) unless they are late due to this fiasco.
 
watchlist Created with Sketch. Add HIL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.