KPMG to qualify 5th Planet Games audit over asset valuation

KPMG has informed Copenhagen-based 5th Planet Games A/S that it will issue a qualified auditors’ opinion on the company’s annual report for the year ended 31 December 2025, a move the issuer disclosed on April 8, 2026. The qualification targets the valuation and reclassification of the company’s co-publishing games, which management moved from intangible assets measured at cost to a financial asset measured at fair value. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))

In its mandatory disclosure to Euronext Oslo Børs, 5th Planet Games said management restated comparative figures as at 31 December 2024 to DKK 42,127k and adjusted opening equity by DKK 8,340k in accordance with IFRS, and that the newly classified financial asset carried a year‑end balance of DKK 54,864k as at 31 December 2025. The issuer said KPMG’s qualification stems from management’s inability to provide sufficient documentation to support the assumptions underpinning the fair‑value assessment for unreleased titles. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))

The company described its engagement with KPMG as having been handled "diligently and collaboratively" and explained the IFRS documentation challenge by noting the titles are new games "without direct comparables or established financial benchmarks," language that signals why management relied on forward‑looking assumptions about future game performance. The disclosure named Pernille Miller, Finance Manager, as the contact for further information. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))

For auditors and engagement teams, a qualified opinion tied to valuation assumptions is a high‑visibility finding: it reflects a scope or evidence limitation in a measurement and classification judgment, meaning the auditor could not obtain sufficient appropriate audit evidence to conclude the carrying amount was free of material misstatement. That is the explicit basis KPMG gave in the issuer’s announcement, and it typically triggers partner-level sign-off, additional testing, specialist valuation work, and closer involvement from the engagement quality control reviewer. Managers and senior associates can expect reallocation of testing responsibilities and more granular workpapers in the affected audit file. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))

A public qualification on a listed issuer on Euronext Oslo Børs carries reputational and resourcing implications for KPMG’s audit practice: issuers, investors and regulators will press for explanations of the model inputs and documentation, internal KPMG file reviews may be launched, and lessons‑learned sessions often follow to tighten valuation procedures. Across European exchanges the vast majority of audit reports remain unmodified, which makes a visible qualified opinion a comparatively uncommon and attention‑drawing event for an audit firm operating in Nordic markets. That broader context is reflected in Europe‑wide audit opinion datasets and regulator guidance on modified opinions. ([blog.auditanalytics.com](blog.auditanalytics.com/insights-from-audit-opinions-across-europe-since-2010/))

For KPMG staff balancing promotion cycles and busy‑season deadlines, the immediate effects are concrete: more partner consultations, potential extension of deadlines for report sign‑off, and added documentation demands that can affect allocation of chargeable hours and work-life balance during April and May close‑out periods. The episode also underlines why engagement teams should involve valuation specialists early, document model inputs, and escalate assumptions when dealing with unreleased intellectual property such as co‑published games tied to Skybound Entertainment IP. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))

Market participants can direct follow-up questions to Pernille Miller, Finance Manager at 5th Planet Games, using the investor relations contact provided in the issuer notice. ([newsweb.oslobors.no](newsweb.oslobors.no/message/670158))