GSE grants extension of filing audited financial statement to six listed firms
The Ghana Stock Exchange (GSE) has given six listed companies till the end of April to submit their audited financial statements for the year ended December 31, 2020.
According to the listing rules, companies on the GSE are required to submit their annual financial statements and reports.
The firms are:
- Fan Milk Plc
- Trust Bank Limited (The Gambia)
- Dannex Ayrton Starwin Plc
- Letshego Ghana Savings & Loans Plc
- Daakye Trust Plc
- E.S.L.A. plc
A release communicating the extension did not provide reasons.
The local bourse had earlier extended the deadline for financial institutions as well to April 30, 2021.
This was due to disruptions and impact on most banks’ human resource allocation due to the COVID-19 pandemic.
Through the Ghana Association of Bankers, the banks requested that the date for filing of 2020 audited financial statements be extended to enable them to work effectively with their external auditors to achieve the audit objectives.
The Association indicated that the recent spike had depleted the banks’ human resource capacity in the country.
“Results from initial assessment in the banking industry point to signals that some banks are unable to keep sufficient staff members at post to assist with the audit of the 2020 financial statements resulting in significant delays in some instances,” the request by the Ghana Association of Bankers, explained.
While the banking industry has resolved to ensure that stricter safety protocols
are implemented across all channels of service delivery, the conduct of banking
requires that, in isolated circumstances, contact with customers, service
providers and other stakeholders are inevitable with its attendant potential high
risk of getting infected with the virus.
The Association reiterated that discussions with some key external auditors who
have expressed similar sentiments in the impact COVID-19 is having on human
resource allocation to audit assignments despite all the digital interventions
that have been introduced to ameliorate its negative effect.