KEG dismisses allegations by former auditor
Liquified petroleum gas company KEG yesterday dismissed allegations by its former auditor that its management had concealed data, Hungarian news agency MTI reported today.
KEG said in a statement on the website of the Budapest Stock Exchange that it had wanted to work with another auditor since October of last year, but “REPORT and AUDIT Auditing and Tax Consulting Kft., in the person of the accountant István Gyapjas” had refused to return some of its books and “showed an unwillingness to cooperate”.
“This makes it difficult, though not impossible, to close the 2015 business year,” it added.
The National Bank of Hungary (MNB) on Friday ordered that trade in KEG shares be suspended after the company failed to reveal the reason for the resignation of its auditor.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.