Alliance International Education Leasing Holdings Limited announced a planned change of auditor, citing an impasse over audit fees and a desire to bolster audit independence after a multi-year tenure with its current provider.
Key points
1. Auditor retirement • SHINEWING (HK) CPA Limited will retire at the conclusion of the company’s annual general meeting scheduled for 27 August 2026. • SHINEWING, auditor since the financial year ended 31 December 2019, chose not to seek re-appointment after failing to reach agreement on fees for the 2026/2027 audit. • Except for a qualified opinion on the year ended 31 March 2026 financial statements, SHINEWING reported no other matters requiring shareholder attention. The board and audit committee confirmed no unresolved issues with the outgoing auditor. • SHINEWING has not begun work on the 2026/2027 audit, and management expects no disruption to the FY27 reporting timetable.
2. Proposed appointment • Following a competitive tender involving four firms, the board will recommend KTC Partners CPA Limited as the new auditor, subject to shareholder approval at the August 2026 AGM and completion of KTC’s client-acceptance procedures. • The audit committee highlighted KTC’s experience in finance, equipment leasing and education services, as well as its capacity to manage the group’s audit requirements. • The proposed appointment is expected to lower annual audit fees without reducing scope, testing procedures or specialist resource allocation.
3. Governance considerations • The board views rotation as a measure to strengthen auditor independence and overall corporate governance. • Evaluation criteria included KTC’s independence, sector expertise, audit methodology, market reputation, resource allocation and alignment with Accounting and Financial Reporting Council guidelines.
A shareholder circular detailing the proposed auditor change and the AGM notice will be issued in due course.
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