Ahold discovers new £50m hole in its accounts
Under-fire Dutch supermarket chain Ahold has revealed yet another large hole in its accounts, this time worth €73m (£50m) as the company looks to put months of financial scandal behind it.
Internal investigations at Ahold revealed another €73m missing from the books in what was termed ‘intentional irregularities’ by the company, thought to relate to the allocation of goodwill and assets from acquisitions.
The new figure brings the total of accounting irregularities discovered by the firm to almost €1bn.
The company has now set up a task force of board members and advisers to identify and reform accounting and internal control weaknesses.