By Modupe Gbadeyanka
Linkage Assurance Plc has received the approval to file its 2016 financial statements unfailingly on or before June 29, 2017.
The company had earlier failed to meet up with the filing deadline of March 31, 2017, and consequently wrote to the Nigerian Stock Exchange (NSE) for a 30-day extension to April 30, 2017 to meet up, which was eventually granted.
However, the firm could not meet up with this deadline again and quickly ran to the NSE for another 60-day grace, which has now been granted.
In a statement, Linkage Assurance Plc explained that the delay was caused as a result of the appointment of KPMG as its new external Auditors, following the completion of the five year tenure of Akintola Williams Deloitte (AWD).
“This caused a delay in the commencement of the audit exercise for the 2016 Accounts and necessitated our request for an extension to April 30, 2017 from the NSE of which same was granted.
“We envisaged that the audit exercise would have been concluded in record time to enable us obtain Board approval for onward submission to the National Insurance Commission unfortunately, the process has taken longer than anticipated being that our Auditors are new and have had to go through a number of preliminary matters in order to familiarise themselves with the operations of the company.
“In this regard, we were constrained to request a further extension of 60 calendar days from April 30, 2017 within which to file the 2016 Audited Accounts.
“Accordingly, having received approval from the Exchange, the company is determined to file the said Accounts unfailingly on or before June 29, 2017.”
“Linkage Assurance Plc appreciates the concerns that may be raised over this situation but humbly reiterates its commitment to operational excellence, due diligence, and best-in-class financial practice and urges its esteemed members and the general public to remain confident as there is no cause for alarm,” the statement said.
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