• Mon. Jul 22nd, 2024

First Capital Bank Appoints EY As New Auditor, Shares Flat

ByETimes

Jun 12, 2024

By ETimes

HARARE – First Capital Bank (FCB) on Wednesday appointed Ernst & Young, Chartered Accountants (Zimbabwe), as its new auditor, replacing Deloitte & Touche Chartered Accountants after 5 years of service.

This action comes shortly after Deloitte Africa’s recent withdrawal from the nation. Later, following a management buyout, Deloitte Zimbabwe changed its name and is currently known as Axcentium.

At the company’s annual general meeting, shareholders approved the remuneration of US$236 338 paid to Deloitte & Touche (Zimbabwe) for the past audit.

“External auditors, Deloitte, Zimbabwe, completed their five-year auditing cycle in 2023,” FCB chairman Patrick Devenish told shareholders attending the virtual annual general meeting.

“I would like to thank them for the diligent manner in which they acquitted themselves during their tenure and wish the local team access to the rebranding as Axcentium.”

The AGM endorsed US$102 000 paid as directors’ fees for the past year.

Shares of the financial institution closed the midweek session flat at US$0.0300.

Devenish added that the company has entered a closed period ahead of the upcoming half-year financial results, during which no additional updates will be shared until the financial results are publicly announced.

By ETimes

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