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.
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.