PracticeAccounting FirmsDeloitte denies changing its stance on Ahold

Deloitte denies changing its stance on Ahold

Deloitte & Touche today refuted a report that it had made a 'move' to refuse to sign off the pending results of Dutch grocer Ahold until it had finished its investigations.

Link: Ahold renews Disco investigation

The FT today reported that Deloitte had changed to this stance since yesterday, which in turn raised doubts about Ahold getting access to a $915m (£585) lifeline promised by its banks.

A spokeswoman for Deloitte dismissed the FT piece as a rehash of old news. In February, when Ahold publicly announced its $500m hole in the accounts of its US subsidiary, Deloitte had been open about the fact it had suspended Ahold’s audit ‘pending investigation’.

Ahold has since started its investigations and the company is confident it will gaining audit approval within the deadline of its loan agreement.

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