KPMG withdraws Audit opinion for Reebonz FY 2018 financial statements as a result of not meeting independence requirements of SEC rule2-01
As of 24th of March 2021, KPMG had determined that its audit report with respect Reebonz’s financial statements for the year ended 31 December 2018 (FY18) should no longer be relied upon. KPMG LLP (Singapore) (“KPMG” or “the Firm”) discovered facts indicating that, at the time of KPMG’s April 9, 2019 report on Reebonz Holding, Ltd. (“Reebonz”) FY 2018 financial statements, it did not meet the independence requirements of SEC Rule 2-01 (17 C.F.R. § 210.2-01).
Reebonz would like to disclose the above fact, and make it publicly known that Reebonz's audited 2018 report which was signed by KPMG LLP for Reebonz financial statements should no longer be relied upon by any party
The company reserves its rights and our lawyers will advise our next course of action to safeguard its interest.