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Yup, there is no way any auditor want to be sued by shareholders...

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Cosmoterios

4,813 Posts.

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17/10/17

20:07

Post #: 27978462
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Originally posted by iansmith2 ↑

ASX requires the annual report within 3 months but as EVM is already suspended this is perhaps not relevant.

More importantly ASIC requires the annual report of public companies to be lodged with them within 4 months. This gives EVM till the end of October. Not lodging the report by then would be viewed seriously by ASIC.

EVM is also running up against other requirements. An AGM must be held by the end of November (5 months after FY end). Notice must be given at least 28 days before then.

I suspect the problem is that the auditors are reluctant to sign off the EVM accounts unless EVM get some guarantee of future funding.

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Yup, there is no way any auditor want to be sued by shareholders or creditors - they would rather walk away from the audit fees, than sign it.

Directors must demonstrate to the Auditor that EVM satisfy as a going concern.

EVM Price at posting: 10.0¢ Sentiment: Sell Disclosure: Not Held
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