Financial Markets Authority questions AFC's going concern status
What happened
The Financial Markets Authority reviewed AFC Group Holdings Limited's going concern assessment for the year ended 31 March 2026. The FMA advised that the available evidence did not sufficiently support the use of the going concern basis of preparation. Consequently, the FMA considered that the financial statements should have been prepared on a non-going concern basis.
From sharechat.co.nz
Why it matters
The FMA requested AFC provide a copy of its letter to the company's auditor and Board of Directors for their information. AFC is currently reviewing the accounting, audit, and financial reporting implications of this feedback and will update the market if a material financial impact is identified.
From sharechat.co.nz
Who's involved
- AFCSubject of the Financial Markets Authority's review of its financial statements
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- S&PSpeculative
S&P might face pressure regarding AFC's investment grade rating, which could affect AFC's access to funding.