JKN Global Group Public Company Limited (SET: JKN) has informed the Stock Exchange of Thailand that, following the notification to extend the submission date of the company’s financial statements, the Office of the Securities and Exchange Commission (SEC) has raised additional observations regarding liabilities related to copyrighted program acquisition transactions.
As a result, the company and Dr. Virach & Associates Office Co., Ltd. (Dr. Virach Office), the independent auditor approved by the SEC and appointed to conduct a special audit, have reviewed the scope of the special audit to ensure that it addresses the SEC’s additional concerns.
At present, the completeness and accuracy of the information are being reviewed in accordance with the audit procedures, prior to preparing the draft special audit report on the copyrighted program acquisitions and is expected to be completed by September 2025.
However, with respect to the special audit on accounts receivable arising from copyrighted program sale transactions, after the commencement of the audit at the company’s premises, it was found that there were limitations regarding human resources and appropriate timing for audit conducting.
Consequently, Dr. Virach Office had withdrawn from performing the said special audit. At present, the Company is considering to propose an engagement of another auditor to replace Dr. Virach Office in order to expedite the issuance of the report that fully addresses the observations raised by the SEC as soon as possible.
Regarding the amended financial statements for the year 2023, as notified by the SEC, the company is currently in the process of discussion with the auditor(s) to review and issue the auditor’s report on the 2023 financial statements. Once the Company has received the complete Special Audit report, it will consider adjustment transactions and amend the financial statements accordingly.
Therefore, the Company finds it necessary to request an extension for the submission of the amended financial statements and the relevant disclosure reports pursuant to Section 56 of the Securities and Exchange Act to the SEC. The requested extension is currently under consideration by the SEC, and the Company will provide further updates through the Stock Exchange of Thailand’s disclosure system as soon as there is any development.
JKN has been granted approval by the SEC to extend the due date for submission and disclosure of the company’s audited amended financial statements for the year 2023, together with the relevant reports, to the public via the disclosure system of the Stock Exchange of Thailand (SETLink), from the due date of July 11, 2025, to the extended due date of September 9, 2025.
