In a statement, Safran said the investigation revealed calculation errors and
inaccurate assessments of the profitability of certain contracts.
The audit had also concluded that, in certain cases, there had been a
deliberate flouting of current accounting rules, while Safran accounting
procedures had not been followed.
The report though cleared Safran corporate management, and the company said
steps were being taken to tighten internal controls.
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The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
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