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Inland Homes plc announced on 11 April 2023 that it has engaged FRP Advisory Trading Limited to undertake an independent review of related party issues. This engagement follows a conclusion by the Board and PwC on 23 March 2023 that further time was required to review these issues for the audit of the Group's annual report and accounts for the year ended 30 September 2022. The Company estimates that the audit could be completed during June 2023.
| Date | 11 Apr 2023 |
| Time | 13:05:59 |
| Category | Miscellaneous |
| ID | 8466V |
Inland Homes plc ("Inland Homes" or the "Company")
Update on Audit Timetable
Inland Homes provides an update on the anticipated timetable for completion of the audit of the Group's annual report and accounts for the year ended 30 September 2022.
As announced on 23 March 2023, both the Board and PwC concluded that they would require further time to review the related party issues announced on 1 March 2023. Further, the independent non-executive directors, Matthew Robinson and Trevor Sawyer, and PwC had explored options for completing the audit and a practical solution, involving suitable internal management procedures along with an independent review, was identified.
Inland now announces that it has entered into an engagement with FRP Advisory Trading Limited to undertake the independent review of the related party issues and any other relevant matters. The scope of work for this engagement has also been reviewed by PwC. It is anticipated that, once completed, the outcome can be reviewed by PwC. Inland estimates that the audit could be completed during June 2023.
The person responsible for arranging the release of this announcement on behalf of the Company is Nishith Malde, Finance Director of the Company.
For further information, please contact:
Inland Homes plc Tel: 44 (0)1494 762450
Nishith Malde, Chief Financial Officer
Panmure Gordon (UK) Limited (NOMAD and broker to the Group) Tel: 44 (0)20 7886 2500
Dominic Morley / James Sinclair-Ford (Corporate Advisory)