Auditor Withdraws Report on Antioquia Gold's 2022-2023 Financials, Citing Restatement Need
Summary
Antioquia Gold's former auditor, Doane Grant Thornton LLP, has formally withdrawn its audit report for the company's 2022 and 2023 consolidated financial statements. This action follows Antioquia Gold's May 15th disclosure that the 2023 financials require restatement due to accounting changes related to depletion and asset useful life. The withdrawal means the previously audited financials cannot be relied upon, signaling severe financial reporting issues and a significant blow to investor confidence. The company is still in the process of identifying and retaining a successor auditor, who will be tasked with reviewing and auditing financial statements starting from 2022.
At the time of this announcement, AGDXF was trading at $0.00 on OTC in the Industrial Applications And Services sector. The 52-week trading range was $0.00 to $0.05. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: TMX Newsfile.