Page 8 - Accounting Issues News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Recasts with CFO comments, details) Feb 17 (Reuters) - Dutch oil and chemical storage company Vopak’s fourth-quarter core profit missed market expectations, due to a one-off accounting issue at its associate industrial terminal PT2SB in Malaysia. Excluding this 20 million euro ($24.11 million) hit the company’s core profit would have met market expectations, analysts said. Chief Financial Officer Gerard Paulides said the PT2SB asset had been unstable financially in the last six quarters or so and noted the significant impact of COVID among other factors. “The asset’s results should h...

Yemen's government has appointed Ernst & Young to audit its central bank accounts, a statement from the prime minister's office said on Sunday, in response to accusations by United Nations officials that it laundered Saudi money.

4 Min Read FRANKFURT (Reuters) - Fresh from toppling the head of Germany’s top financial regulator last week, lawmakers are turning their fire on finance minister Olaf Scholz and his deputy Joerg Kukies. FILE PHOTO: German Finance Minister Olaf Scholz attends a session at the lower house of parliament Bundestag in Berlin, Germany, December 9, 2020. REUTERS/Hannibal Hanschke As their inquiry into the collapse of Wirecard gathers pace, it has put Germany’s biggest fraud centre stage in national elections in which Scholz wants to stand for chancellor. “The focus of the parliamentary inquir...

Britain's new business minister promised on Tuesday to "get the ball rolling" on long delayed changes to rules for auditing financial accounts, but stopped short of committing to legislating soon.

By Reuters Staff 2 Min Read FILE PHOTO: A company logo is pictured at the headquarters of Germany's Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski BERLIN (Reuters) - A top manager at Commerzbank told German lawmakers on Thursday the bank was a victim of fraud surrounding the collapsed payments company Wirecard, as he laid out how the lender was deceived by executives and auditors. Marcus Chromik, Commerzbank’s chief risk officer, told a parliamentary committee that the bank agreed to extend credit in 2018 to Wirecar...