D1 recruits Grant Thornton as auditors

D1 OILS has replaced its incumbent auditors with Grant Thornton.

Ernst & Young quit as auditor of the AIM-listed biofuel company, announcing there were no circumstances associated with its resignation that required disclosing to creditors.

The company has also moved its accounting reference date to 30 June, from 31 December. The move will help the business as 30 June falls between its Indian harvesting dates allowing it to more accurately report its grain collection, production and sales.

In June the Telegraph reported that E&Y had issued a “disclaimer of opinion” on whether D1 would continue as a going concern.

ACCA member Ian Wilson is also appointed CFO. He was involved in the company’s November fundraising.

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