AYO refutes claims that its financials were amended | CTlive.info - South Africa News

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File Photo: IOL

PRETORIA – AYO Technology Solutions said on Thursday that the company was extremely perturbed by the allegations by its former executives that, any of its unaudited financials were amended. 

The former executives, Kevin Hardy and Siphiwe Nodwele were testifying at the Commission of Inquiry into alleged improprieties at the Public Investment Corporation (PIC).

“AYO strongly refutes such claims and wishes to assure all stakeholders that this was not the case. Further, the company is co-operating with the JSE and its request to have its external auditors examine the company’s unaudited interim results for the period ending 28 February 2018 as well as for the period ending 28 February 2019.  

“AYO is deeply concerned that the claims from Mr Hardy and Mr Nodwele – both former executives who themselves did not wish to submit to a forensic investigation of their company dealings – have led to Ayo being tried in the media (again) and found guilty before being proven innocent,” said an AYO spokesperson. 

The spokesperson said AYO, requests that the media respect facts and not rely on unsubstantiated reports and allow due process to occur.

“AYO wishes to point out the fact that if the executives concerned truly believed that company results were being unlawfully amended, then it was their fiduciary duty to report it to the board and/or to the proper authorities. Since there was nothing untoward in the submitted unaudited financials, there was nothing to report. AYO must ask why Messrs Hardy and Nodwele have waited for a very public forum to air their concerns.  

“AYO has grave reservations and is extremely disappointed in the testimony given by both Mr Hardy and Mr Nodwele,” the company said in a statement.

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