The company notes the AFR article today citing unidentified “sources”, implying that Slater and Gordon’s (ASX:SGH) accounting practices are the subject of an ASIC examination.
The article goes on to infer that SGH has recently engaged EY to undertake its UK audit in response to preliminary inquiries from ASIC. Both of these contentions are incorrect and misleading.
EY assisted SGH with its financial due diligence in relation to the acquisition of the Professional Services Division (PSD) and was recently appointed to undertake the UK component of its audit process, which had been formerly undertaken by Baker Tilley (UK).
Pitcher Partners were not involved in the financial due diligence relating to the acquisition of PSD.
Furthermore Pitcher Partners has confirmed that it has not received any targeted enquiry from ASIC in relation to the accounting practices of SGH.