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A statement from The Very Group - auditor

March 20, 2024

Deloitte LLP has resigned as auditor of The Very Group Limited and its subsidiaries, having provided audit facilities for 11 years commencing with the audit of the 2011/12 financial year.

As part of the most recent full year audit, Deloitte requested more information relating to financing arrangements of companies in the wider shareholding group, which are audited by other firms or are unaudited. All the necessary information was provided by those other group companies and The Very Group Limited accounts were filed on time and with an unmodified audit opinion. Over the course of its 11-year tenure, Deloitte has consistently provided clean, unmodified audit opinions and The Very Group continues to perform strongly, reporting 10.1% growth in pre-exceptional EBITDA in H1 FY24. The Very Group will announce a new auditor in due course.

Statement of reasons provided by Deloitte: 

‘During the course of our audit of the Company, we encountered difficulties with respect to the availability of and access to appropriate and relevant information in respect of certain financing arrangements between companies in the wider Group, which are either not audited by the same audit firm or are unaudited, to determine whether they impacted the Company. Whilst these difficulties were resolved, we have concluded that we wish to resign as auditors.’

The Very Group is grateful to Deloitte for its partnership and looks forward to sharing news of a new auditor in due course.

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