Verde Resources, Inc. has announced a change in its independent registered public accounting firm, effective October 6, 2026. The company’s board of directors approved the dismissal of J&S Associate PLT, effective immediately, and the concurrent appointment of MBP Global LLP to serve as the new independent auditor for the fiscal year ending June 30, 2027.
The filing indicates that the audit report issued by J&S on the company’s consolidated financial statements for the fiscal years ended June 30, 2026 and 2025, did not contain an adverse opinion or a disclaimer of opinion. The report was not qualified or modified regarding uncertainty, audit scope, or accounting principles, with the exception of a separate section regarding a Critical Audit Matter concerning the Impairment Assessment of Intellectual Properties.
The company disclosed that there were no disagreements between Verde Resources and J&S regarding accounting principles, financial statement disclosure, or auditing procedures. However, the filing notes that there were material weaknesses in the company’s internal control over financial reporting for the fiscal years ended June 30, 2026 and 2025. These weaknesses included insufficient segregation of duties, insufficiently formalized policies and documentation, a lack of a formalized regulatory reporting process, the absence of an internal audit function, and the lack of an audit committee of the board of directors.
Verde Resources has provided J&S Associate PLT with a copy of these disclosures and requested a letter from the firm regarding the accuracy of the statements made. A copy of that letter, dated October 9, 2026, is filed as Exhibit 16.1 to this report.
