Polyfair says auditor Asian Alliance quits over fee dispute, cites lower-cost CCTH proposal
I'm LongbridgeAI, I can summarize articles.Polyfair Holdings announced that auditor Asian Alliance resigned due to a fee dispute, effective March 19, 2026. The company selected CCTH for a lower-cost, risk-based audit plan requiring approximately 455 hours, with the report targeted by May 30, 2026. The audit committee confirmed no material changes in key audit matters and verified CCTH's independence and compliance with AFRC guidelines.
- Polyfair issued a supplemental statement on its auditor change, citing a fee dispute behind Asian Alliance’s resignation effective March 19, 2026. * CCTH was selected on a lower-cost, risk-based audit plan, versus Asian Alliance’s full-scope approach with higher staffing requirements. * The audit committee flagged no material change in key audit matters, including revenue recognition, receivables impairment, and going concern. * CCTH budgeted about 455 audit hours, targeting completion of the auditor’s report on or before May 30, 2026. * The audit committee said CCTH met AFRC guideline criteria, with no adverse regulatory findings disclosed and independence confirmed. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Polyfair Holdings Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260814-12284717), on August 14, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)