Forensic audit uncovered missing funds at Versatile

KUALA LUMPUR: Versatile Creative Bhd said a forensic audit has uncovered missing funds in the company.

The company told Bursa Malaysia today that a report by Crowe Malaysia revealed that there were irregularities in payments amounting to RM2.3mil which were approved by the company’s managing director and chief financial officer.

The forensic audit by Crowe Malaysia was completed on Aug 8.

“The report also found that the managing director and chief financial officer could not account for the RM2.3mil and failed to provide evidence as to whom the RM2.3mil was paid to,” it said.

The company said further announcements will be made on the next steps to be taken.

Shares in versatile were suspended from trading on Bursa Malaysia since Wednesday after the company failed to release its annual report and financial statements for the year ended March 31, 2018.

Corporate News , Versatile Creative