China Sky replacing auditor; cites difficult working relationship

Singapore

CHINA Sky Chemical Fibre is replacing its auditor Baker Tilly TFW LLP, with the company saying that the change is due to a difficult working relationship and a proposed increase in audit fees.

Baker Tilly has resigned on July 8, China Sky said in a late night announcement on Tuesday. It added that the resignation will take effect when the appointment of a new auditor that it has identified is approved by shareholders. China Sky said it has taken measures to address shareholders' concerns that the change of auditors will affect the process of share trading resumption.