Asia/Pacific News
Bunker Supplier NewOcean Sees Auditor Resign Over Fees
The firm auditing bunker supplier NewOcean Energy during its restructuring process has stepped down after a dispute over fees.
Crowe (HK) CPA Limited will no longer act as the firm's auditor for its 2021 financial reports as of January 26, New Ocean said in an exchange filing on Wednesday.
"Crowe stated in its letter of resignation that, after taking into account many factors including the level of audit fees and its available internal resources in the light of the current work flows, it decided to tender its resignation as auditor of the company," NewOcean said.
"Crowe has confirmed that there are no matters in connection with its resignation that need to be brought to the attention of holders of securities or creditors of the company."
NewOcean has now appointed Confucius International CPA Ltd as its auditor. No significant impact is anticipated on the audit of the company's 2021 results.
