Ahold reportedly has reopened its internal probe into irregular transactions at its Argentine supermarket business, and also has decided to extend it to all of the company’s Latin American units.
However, the company said that it didn’t believe its financial results would be affected by the new probe, and wouldn’t say whether it was doing so because of demands of US, Dutch, or other regulators.
As has been well documented, Ahold last month announced a $500 million overstatement of profits, and has launched its own investigation into the operations at its US Foodservice subsidiary.
However, the company said that it didn’t believe its financial results would be affected by the new probe, and wouldn’t say whether it was doing so because of demands of US, Dutch, or other regulators.
As has been well documented, Ahold last month announced a $500 million overstatement of profits, and has launched its own investigation into the operations at its US Foodservice subsidiary.
- KC's View:
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Either someone or something demanded a relaunched and expanded investigation, or Ahold is trying to get ahead of the curve in dealing with this growing accounting scandal.
Hard to imagine that there’s no impetus for this move.
