UPDC Plc Notifies of Delay in filing its 2018 Audited Financial Statement

Tuesday, March 05, 2019 02:50PM / NSE

The External Auditors of UACN Property Development Co Plc (the Company), Ernst & Young, has indicated that a paragraph on Material Uncertainty Related to Going Concern will be included in its Audit Opinion on the Company’s 2018 Audited Financial Statements.

In line with Section 8(1)(n) of the Financial Reporting Council Act No 6 of 2011, Ernst & Young is required to submit a copy of the 2018 Audited Financial Statements of UACN Property Development Company Plc together with explanatory memorandum to the Financial Reporting Council of Nigeria (FRC) for review and the 2018 Audited Financial Statements cannot be announced to the public until all accounting issues relating to it are resolved by the FRC.

It is sexpected that the Company will publish its 2018 audited Financial Statements by May 10, 2019.

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