KINGSTON, Jamaica — Shareholders of Jamaica Broilers Group Limited will vote next month on replacing long-standing auditor PricewaterhouseCoopers with Ernst & Young — just weeks after PwC was reappointed — as fallout continues from accounting irregularities in the company’s United States (US) operations.

The company has scheduled a virtual extraordinary general meeting (EGM) for April 7 to consider the change, less than two months after shareholders ratified PwC’s reappointment at JBG’s annual general meeting (AGM) held on January 23.

PwC had served as JBG’s external auditors for at least two decades, with records indicating the firm held the role as far back as 2003.

The proposed auditor switch follows PwC’s issuance of a qualified audit opinion on JBG’s May 2025 audited financial statements — an uncommon and significant development for a listed company. The qualification stemmed from accounting irregularities uncovered in the group’s US operations, as well as management’s decision not to undertake certain forensic electronic communication searches related to the US business.

In a November statement, JBG disclosed that it had asked PwC to amend its audit opinion following legal advice that a review of certain emails could potentially contravene the Jamaica Data Protection Act, along with multiple data privacy laws in the United States. However, at the company’s AGM, meeting chairman Bruce Bown said JBG ultimately proceeded with publishing the audited financial statements carrying the qualified opinion, citing the risk that its ordinary shares could have been suspended from trading on the Jamaica Stock Exchange (JSE) had it failed to do so.

The group has since restated its previously published 2024 financial statements after the accounting issues were identified in its US operations. The restatement, valued at roughly $46 billion, primarily reflected overstated inventories and biological assets and was the main driver behind JBG’s $7.22-billion net loss for the 2025 financial year.

Even as it works to stabilise its financial position, the company continues negotiations aimed at resolving approximately US$120 million in debt linked to its US business.

JBG recently completed a $24-billion refinancing arrangement involving National Commercial Bank (NCB) Jamaica, Scotiabank and CIBC Caribbean, providing the group with additional liquidity as it restructures its balance sheet.

The refinancing package includes roughly $15 billion from NCB Jamaica, making it the largest participant in the facility. The transaction was arranged as the company works to shore up its finances following the accounting restatement and losses linked to its US operations.

The refinancing also comes against the backdrop of the recent resignation of Bruce Bowen as chief executive officer of NCB Jamaica, one of the key lenders involved in the transaction.