PracticeAuditBrebner reveals Easier audit concerns

Brebner reveals Easier audit concerns

Brebner's concerns over evidence relating to Easier's assets lead to it stepping down as auditor

Brebner Allen & Trapp, the now-former auditor of troubled cash shell
Easier, quit the role under similar circumstances to those of Deloitte just a
year earlier.

According to its resignation letter filed at Companies House, Brebner quit
after failing to receive ‘sufficient audit evidence’ regarding the company’s
assets.

Brebner’s letter stated: ‘We consider that the absence of such evidence in
this significant area is a limitation of scope likely to result in the need to
issue a disclaimer of opinion on the financial statements.’

Brebner’s letter has also called for Easier board directors to bring these
circumstances to the attention of the company’s members and creditors, which the
directors are obliged to do under the Companies Act.

Deloitte quit as Easier’s auditors last October having requested information
relating to the company’s investments; but it did not receive an adequate
response.

Worried shareholders have continually focused their attention on details
surrounding the company’s £5.3m cash, which its directors have claimed is held
on deposit.

Easier shareholder Neville Buch, who is leading a revolt against Easier’s
board of directors, had previously told Accountancy Age that he was
‘looking forward’ to finding out if Brebner stepped down for similar reasons to
Deloitte.

Buch has called for a court hearing in October to requisition an EGM, in an
attempt to replace Easier’s current board with himself and another dissident
shareholder, Gilbert Chalk.

Easier was unable to comment.

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