Rebosis to appoint independent valuer
Property fund says its portfolio will be revalued after it received a qualified opinion from its auditors
30 January 2020 - 19:25
UPDATED 24 February 2020 - 17:31
In an effort to improve its credibility, Rebosis Property Fund has agreed to have its portfolio revalued after its auditor BDO granted a qualified opinion on its results for the year to August because of a valuation discrepancy.
BDO, which issued the opinion report in December, a month after Rebosis issued its full-year results to August, originally appointed Quadrant Properties to value the portfolio. Quadrant head Peter Parfitt valued the portfolio at R12.8bn, lower than Rebosis’s R15.6bn...
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