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Athelney Trust PLC announced on August 16, 2024, that Moore Kingston Smith LLP (MKS) resigned as its auditor. MKS's resignation letter, dated August 6, 2024, cited the upcoming departure of its audit partner and reduced capacity for Public Interest Entity audits as reasons for its decision after one year of service. MKS confirmed that there are no circumstances needing to be brought to the attention of the Company's members or creditors under Section 519 of the Companies Act 2006, and the Audit Committee has begun identifying a new auditor.
| Date | 16 Aug 2024 |
| Time | 14:21:29 |
| Category | Corporate updates |
| ID | 8114A |
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
Auditor Resignation
Athelney Trust plc (the "Company") announces for information only that Moore Kingston Smith LLP ("MKS") has resigned as auditor.
MKS explains in its resignation letter of 6th August 2024 that the Company's audit partner is shortly to depart MKS and due to its reduced capacity to complete audits for Public Interest Entities ("PIE") and in order to maintain the quality of the audit services that it provides, it has determined that it is necessary for it to resign from the office of auditor.
Athelney Trust plc is classified as a PIE due to its Premium Listing on the London Stock Exchange's Main Market.
MKS confirms that there are no circumstances connected with it ceasing to hold office as auditor which it considers should be brought to the attention of the Company's members or creditors in accordance with Section 519 of the Companies Act 2006.
After just one year, and with no opportunity to agree on a way forward with MKS as auditors, this is very disappointing news. The Audit Committee has already begun the process to identify a new auditor.