EY has resigned as the auditor of a Chinese education company, complaining that it wasn’t informed about an investigation into the Hong Kong-listed company’s initial public offering.
In a stock exchange announcement Thursday, China General Education Group Ltd. said that Ernst & Young LLP quit on Sept.1 and would be replaced by Moore Stephens CPA Ltd. The company, which was suspended from trading in November, said it asked EY to resign because of the Big Four firm’s refusal to sign off on its 2022 results.
- EY said in its resignation letter that it couldn’t reach an agreement over the scope ...
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