Tanganda drops Ernst & Young as auditors

TEA producer, Tanganda Tea Company Limited, has dropped Ernst & Young Chartered Accountants Zimbabwe as its auditors over differences regarding the interpretation of hyperinflationary financial reporting.

In January, Deloitte & Touche, who had been auditors of the company for more than 10 years, stepped down as the auditors in line with section 69(6) of the Zimbabwe Stock Exchange listings requirements.

Shareholders were then asked to appoint Ernst & Young as the auditors of the company for the ensuing financial year.

This story is for NewsDay subscribers.