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Versarien – declining balance sheet quality, the roadmap to the endgame

By Tom Winnifrith | Friday 25 February 2022


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Changing auditors for a listed public company a month before the Group’s year end isn’t a planned event as planned rotations are indicated upfront in the audit report and accounts and the notice to the Annual General Meeting.  As I pointed out in my note yesterday, such a late change is indicative of a tension between the company and its auditor’s even if that does not rise to the level of the auditors saying that there are no circumstances that the auditors wish to bring to the attention of creditors.

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