Jinshang Bank Announces Change of Auditors as Ernst & Young Retires After Term Completion

Reuters
May 27
Jinshang Bank Announces Change of Auditors as Ernst & Young Retires After Term Completion

Jinshang Bank Co., Ltd. has announced a proposed change of auditors, with Ernst & Young Hua Ming LLP and Ernst & Young set to retire as the independent auditors upon the expiration of their current term following the upcoming annual general meeting $(AGM)$. This change comes in compliance with the Administrative Measures for the Appointment of Accounting Firms by State-owned Financial Enterprises, which limits the term of appointment for an accounting firm by a financial enterprise to five years. Ernst & Young has served as the auditing firm for Jinshang Bank's financial statements for the past five consecutive years since 2020. The bank has initiated a tendering process to appoint new auditors, ensuring adherence to regulatory requirements. The Board has confirmed there are no unresolved issues or disagreements with the outgoing auditors that need to be communicated to shareholders.

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