ybersecurity firm Darktrace on Monday said it has appointed auditing firm EY to review its “key financial processes and controls,” in a bid to soothe investor fears after a short seller accused the company of manipulating its accounts.
“The Board believes fully in the robustness of Darktrace’s financial processes and controls. As a sign of that confidence, we have commissioned this independent third-party review by E&Y,” Geoffrey Hurst, chair of the board, said in a statement. “We look forward to the outcome of this review.”
EY will report to the chair of Darktrace’s audit and risk committee, Paul Harrison, Darktrace said. Darktrace said it doesn’t expect to be in a position to update markets on the review by the time of its first-half earnings report on Mar. 8 and didn’t provide a timeline or when it would release the findings.
