Victory City Says Deloitte Resigns as Company Auditor

Deloitte has resigned as auditor of the company with effect from March 26, Victory City says in Hong Kong stock exchange filing.

• Deloitte says in resignation letter that it has no alternative but to resign, as the company has not implemented a timely and robust governance response to the discovery of outstanding bank borrowings not included in previously issued financial statements
• Deloitte has informed the company that the auditor’s reports on financial statements for the year ended March 2020 and interim financial information for the six months ended Sept. 2020 are not reliable
• Company is in process of finding ...