Disclaimer of opinion by independent auditor on Ayondo's FY2018 financial statements
Ernst & Young unable to conclude whether or not it was correct for the fintech group to use the assumption of a going concern in preparing the statements
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Tay Peck Gek
Singapore
THE independent auditor for fintech group Ayondo has issued a disclaimer of opinion on the Catalist-listed firm's financial statements for the financial year 2018.
Ernst & Young (EY) explained that it has not been able to obtain sufficient and appropriate audit evidence to conclude whether or not it was correct for Ayondo to use the assumption of a going concern in preparing the statements. It noted that Ayondo's current liabilities and total liabilities exceeded its current assets and total assets by 8.258 million Swiss francs (S$11.337 million) and 8.279 million Swiss francs respectively as at Dec 31, 2018.
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