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Chaarat, the AIM-quoted gold mining company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic, has announced the appointment of Macintyre Hudson as its new auditor with immediate effect.
The appointment follows Deloitte’s resignation as the gold mining company’s auditor, as well as the closure of its office in Armenia which is the location of a “significant portion” of Chaarat’s operations.
According to the group, Deloitte was also unable to “identify an approach” that would let it perform the group’s audit for the year ended 31 December 2022 to the required audit quality, given the significance of Chaarat’s Armenian operations to the company.
As a result, Macintyre Hudson will conduct the audit of the company’s financial statements to December 2022.
The company has yet to confirm if MHA will be appointed auditor for the following financial year, as it is subject to shareholder approval at the next annual general meeting of the company.
A Chaarat spokesperson said: “The board looks forward to working with MacIntyre Hudson and it wishes to take this opportunity to thank Deloitte for its services and support since its appointment in October 2021.”
