EY resigns as MJ Hudson auditor over ‘loss of trust’

EY has revealed it has resigned as auditor of asset management firm MJ Hudson citing a loss of “trust and confidence” in the firm’s finance team.

In an update to shareholders MJ Hudson said EY has resigned from its position with “immediate effect”.

The company said EY’s letter of resignation stated: “We are ceasing to hold office because we have lost trust and confidence in the company’s management and those charged with governance, and in their ability, along with your finance team, to provide us with accurate and reliable information for audit.”

The MJ Hudson board added it continues to work with an external accounting and financial services firm to assist it in achieving the necessary clarity to enable the year end FY 2022 reporting to be completed.

Its board believes that this process will “take some time to finalise” and, during this time, the board will commence the search for a new auditor.