Fighting Revolution Beauty will be investigated for not completing its audit quickly enough
Fighting Revolution Beauty will be investigated for not completing their audit quickly enough.
Law firm Macfarlanes and consultants Forensic Risk Alliance are launching an investigation into the business after its auditor, BDO, expressed “serious concerns” about its failure to publish an audit report for the last financial year.
Revolution’s shares were suspended from the London Stock Exchange last month after its financial results were further delayed.
Inquire: Shares of Revolution were suspended from the London Stock Exchange last month after its financial results were further delayed
The investigation will also analyze the validity of certain commercial agreements made by the beauty brand and is expected to last for several months.
Non-Executive Director Derek Zissman and CFO Elizabeth Lake will form a committee to lead the process with independent advisers.
He said: “We will continue to keep investors and stakeholders fully updated as the process continues.”
The firm warned that its financial results will be well below market expectations.