Natural Cool's auditor adds 'emphasis of matter' relating to probe at paint units

Singapore

THE auditor for Catalist-listed airconditioning group Natural Cool has included an emphasis of matter in its report on the firm's financial statements for its financial year 2016, related to the new board's decision to probe alleged irregular transactions at some paint division units.

Noting the firm had "recently" formed an internal investigation committee, KPMG said that the "ultimate outcome of the matter cannot presently be determined" since the investigation was "still in progress", and the firm's financial statements for its financial year ended December 2016 have not been adjusted for any findings from the probe.