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Vibrant Group names Ernst & Young as unit Blackgold's special auditor
VIBRANT Group has appointed Ernst & Young Advisory Pte Ltd as special auditor for its subsidiary Blackgold International Holdings, the logistics firm said in a Singapore Exchange (SGX) filing on Tuesday.
Ernst & Young will carry out Vibrant's special audit into irregularities as well as the assets and accounting records of Australian-listed coal producer Blackgold, and provide the audit committee and the SGX with a written report of its findings.
The board will make further announcements on any material developments in connection with the special audit as and when appropriate, Vibrant said.
On Aug 9, a vehicle carrying accounting records of a Blackgold unit caught fire near a coal mine in China. Blackgold reported the fire to the local police as a suspected deliberate act to destroy the records.