SEPOY.net
No Result
View All Result
Monday, June 16, 2025
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home News

Adler is running away from time looking for an accountant

Nicholas by Nicholas
November 16, 2022
in News
0
Adler is running away from time looking for an accountant

Dhe crisis-ridden real estate company Adler Group has still not found an auditor who would be willing to audit the financial statements for the 2022 fiscal year. Although the balance sheet can only be checked after the company has prepared it after the end of the financial year, things get tight until then. Because the previously responsible auditor KPMG has withdrawn from the mandate, a new auditor would first have to familiarize himself with the complex group structure.

It is particularly explosive that the creditors of some Adler bonds could reclaim their invested money if the company does not submit audited annual financial statements by April 30, 2023. As of June 30, the Adler Group had outstanding bonds totaling EUR 4.4 billion – a large part of which has a clawback clause.

The worst was prevented at the last moment

At the end of April, Adler was only able to prevent a violation of bond conditions at the very last moment. The auditor KPMG had refused to certify the balance sheet for 2021, but it was checked. Given this formality, bondholders had no valid reason to demand their money back, although some of them might have liked to do so because of doubts about the company.

—
— (–)


For detailed view

According to a report by the Bloomberg news agency on Wednesday, confidential talks are now taking place between Adler and major creditors. The aim is for the company to free itself from the obligation to present audited financial statements. In addition, Adler is trying to find new financing of several hundred million euros. A spokesman for the company did not comment. According to the report, Adler is also working on a restructuring report to get new money. In its standard IDW S 6, the auditing institute IDW has specified requirements for such restructuring.

  • Published/Updated:



  • Recommendations:

    6

  • Published/Updated:



  • Recommendations:

    32

  • READ ALSO

    Sipri report: Peace researchers warn of nuclear arms arms

    LiveTicker Iran & Israel: Netanyahu reports the killing of Iranian secret service chief

  • Günter Murr, Jochen Remmert

  • Published/Updated:



  • Recommendations:

    12

  • Jochen Remert

  • Published/Updated:

  • ,



    Recommendations:

    40

KPMG justified the refusal to certify Adler’s balance sheet by not being able to assess with sufficient certainty whether transactions with related parties had taken place and whether these transactions had been fully and correctly recorded. This question was also investigated by a special forensic audit commissioned by Adler, which was also carried out by a company that is a member of the international network of auditors KPMG.

This special audit could not completely eliminate the doubts of shareholders and creditors about Adler’s balance sheet, which were aroused by an attack by short sellers. That’s why auditors don’t want to shoulder the difficult mandate. However, if no auditor is willing to voluntarily audit a company, a court can still appoint an auditor.

Tags: Adler Groupannual accountsISIN_DE0009653386KPMGreal estate companySDAX

Related Posts

Sipri report: Peace researchers warn of nuclear arms arms
News

Sipri report: Peace researchers warn of nuclear arms arms

June 16, 2025
LiveTicker Iran & Israel: Netanyahu reports the killing of Iranian secret service chief
News

LiveTicker Iran & Israel: Netanyahu reports the killing of Iranian secret service chief

June 15, 2025
Anger on the tourist masses: with firecrackers and water pistols
News

Anger on the tourist masses: with firecrackers and water pistols

June 15, 2025
Club World Cup in USA: Lionel Messi cannot save this game either
News

Club World Cup in USA: Lionel Messi cannot save this game either

June 15, 2025
Minnesota attack: The perpetrator came camouflaged as a police officer
News

Minnesota attack: The perpetrator came camouflaged as a police officer

June 15, 2025
LiveBlog USA under Trump: Military parade on Trump's 79th birthday ends in Washington
News

LiveBlog USA under Trump: Military parade on Trump's 79th birthday ends in Washington

June 15, 2025
Next Post
Commentary on Rocket Impact: The NATO Red Line

Commentary on Rocket Impact: The NATO Red Line

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: hello@sepoy.net

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • 2025 Finest Public Casinos Checklist on the You S. Earn A real income Prizes
  • Hugo Slot Aufführen Die leser Spielautomaten great book of magic online dies Play’n GO Spielsaal-Durchgang kostenlos
  • Chronilogical age of the newest Gods: Norse Method of Thunder Slot A great 2025 Review

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2023 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2023 Sepoy.net