Statutory auditor resigns mid term citing resource challenges
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S V Global Mills statutory auditor S Viswanathan LLP resigned effective 3 July 2026, barely a year into a five year term that was to run until the FY 2028-29 AGM. The firm cited rising professional effort and difficulty deploying enough quality resources to audit a listed company of this size. They confirmed there is no dispute with management, no concern about suppression of information, and no inability to obtain audit evidence. The latest audit report for FY ended 31 March 2026 was issued on 25 May 2026 with no qualifications flagged. Board will recommend a new statutory auditor subject to shareholder approval.
Mid term auditor exit may raise governance concerns. Watch for timely appointment of a replacement to avoid audit delays.