“We have not been given significant information by the directors to enable us to ascertain whether or not appropriate progress has been made.”
… statement by BDO Accountants upon resigning as Harlequin Property’s auditors.
Harlequin Property walks like duck
What’s that saying about a shoe fits? Or is pig with lipstick? Or if it walks like a duck with shoes and lipstick?
I kind of forget, but I’ll bet there are many old sayings that apply right now – like fools and money…
Harlequin Property auditor quits
Harlequin Property, the UK-based overseas property sales agent that is at the centre of a Serious Fraud Office (SFO) investigation, has lost its second auditor in under three years.
Accountants BDO has filed a public resignation at Companies House saying it can no longer act as auditor for Harlequin Property, according to the Brentwood Weekly News.
The firm is being investigated by the fraud office and Essex Police following complaints from investors over delays. It has sold more than 6,000 off-plan holiday properties across six Caribbean resorts, taking in more than £300m, but so far built around 300.
Harlequin denies any wrongdoing.
Auditors independently verify the accounts of a limited company based on information supplied by the firm. BDO audited its last accounts up to March 2011, but issued a disclaimer saying it had not seen enough evidence to ensure they were accurate.
Its resignation letter said: “We have not been given significant information by the directors to enable us to ascertain whether or not appropriate progress has been made.”
It added in light of the lack of communication, which it said was needed for an effective audit, it “had resigned as auditor”.
Harlequin’s previous auditor Wilkins Kennedy resigned in summer 2010 saying information had come to light which made it inappropriate to stay in office.
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