The board of Linkage Assurance Plc, on Thursday said it had received a 60 calendar days’ extension between April 30 and June 29, 2017 for filing of its 2016 audited accounts.
A statement by Kehinde Ayodele (Mrs.) said the audit process has taken longer than anticipated, with the company unable to meet the March 31, 2017 filing deadline, because KPMG, its newly appointed external “auditors are new and have had to go through a number of preliminary matters to familiarize themselves with the operations of the company”
However, the statement continued, the appointment of KPMG to replace Akintola Williams Deloitte, which completed its five-year tenure, could not be ratified until the February 2017 annual general meeting to consider the 2015 financials.
This, it caused, “caused a delay in the commencement of the audit exercise for the 2016 accounts and necessitated our request for an extension to 30th April, 2017 from the NSE of which same was granted.”
By June 29, the statement continued, “the audit exercise would have been concluded in record time to enable us obtain board approval for onward submission to the National Insurance Commission.
“Unfortunately, the process has taken longer than anticipated being that our auditors are new and have had to go through a number of preliminary matters in order to familiarize themselves with the operations of the company,” it stressed