Kuflink CEO Narinder Khattoare has said that the firm remains in “good health” after its auditor exited the firm after raising concerns about governance.
Auditor EY quit Kuflink in February according to a letter sent to Companies House. That letter said that the lender needed to improve its governance and record-keeping but there is no suggestion of any wrongdoings by the firm.
In response, the peer-to-peer lender has appointed a new auditor in MHA MacIntyre Hudson and has been working to address the issues raised.
Khattoare said: “I would like to confirm that the business has already successfully worked through many of these areas recorded by our old auditors with some still being addressed in collaboration with our new auditors.
Moneypenny warns accountancy firms against cost-cutting accountancyage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountancyage.com Daily Mail and Mail on Sunday newspapers.
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From today, contractors will have to take on self-employed people they use consistently as PAYE staff. Those that are unprepared will face trouble with HMRC, a tax expert has warned.
The IR35 change was announced in 2018 and large contractors are understood to have done extensive preparation for the new rules, according to Brendan Sharkey, partner at accountancy MHA MacIntyre Hudson. Some smaller firms are yet to get to grips with the new rules though, he warned. “It’s only when they’ve read about it in the press, got their heads around it, and thought, ‘you know, I think we’re sitting on a problem’,” he said.