Stark Corporation has asked the Securities and Exchange Commission (SEC) to delay the deadline for the submission of its special audit report by another 30 days from Friday, but indicated it is prepared to file its 2022 financial statement on July 16, as required by the regulator.
Acting chief executive and director Vonnarat Tangkaravakoon said the wire and cable manufacturer appointed PricewaterhouseCoopers ABAS Ltd (PwC) as auditor to conduct an extended-scope special audit, as instructed by the SEC.
The special audit requires the inspection of several documents including trading transactions and debt repayments of four major subsidiaries during 2021 and 2022, and a comparison between bank statements and income expenditure in the general ledger between 2021 and April this year, he said.