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RSM quits Manolete audit over conflict of interest

RSM has resigned as auditor of AIM listed Manolete Partners after a conflict of interest over a purchased claim related to an insolvency where the mid-tier firm is administrator

After concerns about independence, the listed insolvency litigation financing company is now looking for a new auditor.

The reason for the resignation was a conflict of interest over one of Manolete's new cases, where a claim was purchased from a company where RSM was acting as the administrator.

Manolete stressed that the company ‘has had an excellent relationship with RSM UK Audit LLP since its IPO in 2018’.

It will be a priority to appoint a new auditor quickly as RSM was working on the audit of the 2023 year end accounts, due to be released in mid to late June for financial year end 31 March 2024.

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