TEMBO GLOBAL INDUSTRIES LIMITED has informed the Exchange about Resignation of Statutory Auditor
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M/s R.A. Kuvadia & Co., Chartered Accountants (FRN: 105487W) has resigned as the Statutory Auditor of Tembo Global Industries with effect from June 27, 2025. The firm was originally appointed on December 20, 2022, for a five-year term ending March 31, 2027, meaning this is a mid-term exit roughly two and a half years before the scheduled end. The auditor cited two reasons: the health issues of the proprietor (he underwent coronary angioplasty) and the expiry of their ICAI Peer Review Certificate, with the renewal timeline being uncertain. The last report submitted by the auditor was the limited review for the quarter ended March 31, 2025. The company has stated it will convene a Board meeting soon to appoint a new reputable firm of Chartered Accountants holding a valid Peer Review Certificate.
Mid-term auditor changes can create short-term uncertainty around audit timelines and continuity, but the reasons cited (personal health and peer review certificate expiry) are not governance red flags. Shareholders should watch for timely appointment of a replacement auditor to avoid any disruption to upcoming quarterly and annual audit cycles.