Littlejohn Frazer

3706 days ago

Globo – what the f**k is going on with its auditors?

Greece based, AIM Cesspit listed software firm Globo (GBO) has today announced that it fired its auditors six weeks ago and has a new firm in place. For a firm whose accounts have come under some scrutiny (see HERE) that might raise a few eyebrows but when you look at the exact timeline you will be truly kebabbed. 

On 17^th May 2013 Globo published its 2012 Annual Report signed off by accountants Littlejohn Frazer. At the AGM held on 10^th June 2013 Littlejohn Frazer was reappointed as auditor.

At some stage in the six months that followed – a helpful fellow at PR firm Brunswick says it was in July – the company changed auditor to BDO. 

On 13^th January 2014 (we discovered today) Globo asked BDO to stand down.

on 16^th January Globo said that it would release a Full Year trading statement on 28^th January – no mention of the audit change

on 28^th January that statement (bullish natch) was published - no mention of the audit change.

Today we are told that: 

"Globo wishes to announce that it has appointed Grant Thornton as its sole global auditor following a competitive tender of three of the top five auditing firms.  

As a result the board requested BDO to resign as its current auditor in favour of Grant Thornton, with effect from 13 January 2014. Grant Thornton is currently carrying out the 2013 Company audit."

Hmmmm