IVD Medical details reasons behind auditor resignation

IVD Medical Holding (HKEX:1931) has released a supplemental announcement clarifying the reasons behind Moore HK's resignation as auditor. The company states that the unexpected departure of senior finance management in late January 2025 disrupted communication regarding audit procedures. Moore HK requested the company to provide additional data and analysis relating to a number of items. These included the preparation of an inventory aging analysis, further substantiation and forecasting for impairment assessments on intangible assets and goodwill including industry growth rates, a trade receivable aging report with detailed supporting documents, a fair value calculation for the joint venture, a complete fair value calculation and report for unlisted fund and equity investments, and formal board resolution confirmation documents for deferred tax liabilities related to dividend withholding tax. IVD Medical reports allocating additional time and resources to meet these requirements, working to maintain audit progress in line with a predetermined timeline.