Ahold in frantic rush to secure Deloitte signature
Deloitte & Touche has been burning the midnight oil with troubled grocery group Ahold after the Dutch company missed its audit deadline.
Deloitte & Touche has been burning the midnight oil with troubled grocery group Ahold after the Dutch company missed its audit deadline.
Link: Ahold in fresh bid to restore credibility
It is the third time the group has missed the deadline for completing the audit. Ahold needs to secure the signature of its auditor Deloitte & Touche.
Ahold is now expected to publish its 2002 financial statements after markets close today, 24 hours later than a previously agreed deadline.
The statements will clarify the state of earnings in the wake of the Euro970m accounting scandal that hit the group in February.
Hanging on the statements is an all-important Euro2.65bn cash lifeline from banks.
The scandal has already brought a total of 21 forensic accounting probes into Ahold’s operations.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View articleThe proposed enhancements, including the focus on material misstatements arising from non-compliance, the introduction of a risk assessment process, a...
View article