Tan Tao Investment and Industry Joint Stock Company (ITA) is facing a significant hurdle in its financial reporting. Despite reaching out to 30 auditing firms, they have been unable to secure an auditor. This has prevented them from releasing their audited financial statements for 2023 and the first half of 2024, as well as their annual report for 2023. The company attributes this difficulty to the revocation of audit licenses for four auditors who previously worked on Tan Tao’s financial statements in 2021, 2022, and the first half of 2023. This has caused concern among other auditing firms, who fear similar repercussions if they take on Tan Tao as a client. While the company maintains they are actively pursuing alternative solutions, they have requested a temporary postponement for the release of their audited reports. This situation highlights the challenges faced by companies in Vietnam when dealing with auditing irregularities.
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