Home REIT auditor BDO under scrutiny over conflict of interest

Questioned independence

Eve Maddock-Jones
clock • 3 min read

Home REIT’s auditor has been challenged on its independence from the troubled investment trust, after revelations that the trust's CFO worked at the accountancy.

Activist investor The Boatman Capital Research sent a letter to accountancy firm BDO, asking for assurance of its independence from the embroiled trust as Home REIT's CFO James Snape was, until March 2022, a senior audit manager at the company charged with checking the trust's books. In a letter seen by Investment Week, Boatman cited Snape's LinkedIn profile and said to BDO: "We are pleased to see someone with appropriate and relevant professional experience joining the investment manager of Home REIT. "However, we think it is reasonable for investors to ask for assurances that there ...

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