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goggle copy paste
When an auditor issues a disclaimer of opinion report, it means that they are distancing themselves from providing any opinion at all related to the financial statements. ... They may not have been able to decipher the correct nature of some transactions or to secure enough evidence to support good financial reporting
To be honest, this disclaimer of opinion is to protect Nexia themselves, they don't have access to SIR, therefore cannot form opinion as SIR was still ongoing, anyhow, game over since 22 october 2021.
This company made all the wrong moves since first day, sue everyone, if they comply with bursa directive and release SIR update, Nexia would have access to SIR update and could form an opinion rather than now, disclaimer of opinions. They ko-ed themselves.
Just release SIR update and impair everything that cannot be confirmed, let auditor form an opinion, maybe an qualified opinion, then move on. Now PN17 and disclaimer, like dig their own grave.
Lewis, if no admit pn17, all your questions won't come in. Now admit pn17, then need major overhaul or restructuring possibly changing the biggest shareholder as well to save it. If they want to continue doing big business/project then have to save it from delist. If reach the level of delist, that means there is no more value in the company.
I guess It will suspended until at least next year. Good luck to those who have shares inside. This AR is basically an incomplete AR as Nexia said they don't have enough time to obtain enough evidence for inventories etc, and have no access to SIR update. The image quality of this AR is a joke lol
Yeah sometimes the auditor has some disclaimers but the AR is considered completed with a big disclaimer because the issues have been announced. Some big companies have classified businesses. So the auditor just put a small disclaimer there as long as the cash come in. I guess it will continue to suspend until the problems are solved. There is no point to open for trading now.
Light shine if you look at this disclaimer compare to other companies, this AR is like for the sake of release AR instead of giving final results of the financial statement as SIR is far from completed. Nexia is trying not to interrupt any findings from the SIR update from time being, or else they will be in trouble too.
Yeah, you are right. This is the best they can make. Basically as for shareholders, the Sir is not important. better not assume details here. Just wait for further news.
