Audit issues delaying finalization of 2025 financials; review underway 

Durrant Pate/Contributor

Trading in the shares of junior market company, Derrimon Trading Limited (DTL) has been suspended by the Jamaica Stock Exchange (JSE) for delays in the submission of its 2025 Audited Financial Statements.

The suspension is in keeping with the Junior Market Rule Appendix 2, Part 4 (2) (e) on Audited Annual Financial Statements. DTL 2025 audited financials, which are due on March 2, 2026, has become 92 days overdue on June 2, 2026.

In the meantime, DTL is advising shareholders and the local equities market that during the course of its 2025 year-end audit, matters were identified requiring further review and validation prior to the finalisation of the company’s 2025 audited financials. 

Independent audit review underway

As part of the audit process, questions arose regarding information generated from DTL’s Enterprise Resource Planning (ERP) environment. Following consultation with management and DTL’s Board of Directors, the company’s auditors commissioned its experts to do additional work to assess the nature, extent, and implications of the issues identified. 

In a statement, the board says it considers it important that DTL’s audited financials be released only after the relevant matters have been appropriately reviewed, validated, and assessed, and that stakeholders are provided with information that is complete, reliable, and properly contextualised. 

“The additional time is intended to facilitate completion of the review process and ensure that stakeholders receive information that is complete, reliable, and supported by an appropriate understanding of the underlying issues. In light of the ongoing review and validation process, the company advises that publication of its audited financial statements for the financial year ended December 31, 2025 will be delayed pending completion of the review and incorporation of the findings into the audit process,“ the company statement read.

The management is working closely with the auditors to expedite the review and to integrate the findings in the results. Based on current expectations, the company anticipates releasing the audited financial statements within 30 days i.e. by June 30, 2026. 

DTL says it is committed to fulfilling its disclosure obligations and to completing the review and financial reporting process in a manner that supports accurate, reliable, and responsible disclosure. In addition, the company remains focused on serving its customers, suppliers, employees, shareholders, and other stakeholders while the review process is completed.