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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