MJ Hudson says auditor EY resigns over "lost trust" in management (updated)

MJ Hudson

13/02/2023 07:54

(Repeats with no change to text)
       Feb 13 (Reuters) - Britain's MJ Hudson Group  MJH.L ,
which provides services to asset managers, said on Monday its
auditors EY, formerly Ernst & Young, have resigned because they
have "lost trust" in the company.
    The company had warned in December it would not be able to
complete its full-year audit in time due to continued
discrepancies in its finances, including those related to
reporting historical trading for fiscal 2022. 
    "(EY) ...have lost trust and confidence in the company's
management and those charged with governance, and in their
ability, along with your finance team, to provide us with
accurate and reliable information for audit," read the letter
from the auditors, which was published by MJ Hudson.
        The asset manager added it continues to work with an
external accounting and financial services firm to help complete
its year end reporting, but did not name the firm. 
        MJ Hudson, which has been mulling sale of some of its
units, also said it has now completed the initial process of
seeking interest from parties to buy some or all of its business
units. 
  
 (Reporting by Sinchita Mitra in Bengaluru; Editing by Savio
D'Souza and Nivedita Bhattacharjee)
 ((Sinchita.Mitra@thomsonreuters.com;))