Adler directors offer to resign after auditor refuses to give opinion on financial statements

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April 30 (Reuters) – German real estate group Adler Group SA (ADJ.DE) said on Saturday that all of its board members had offered to resign with immediate effect, after an auditor refused to step down. comment on the company’s financial statements.

Adler has been embroiled in an accounting investigation following allegations made against him last October by short seller Fraser Perring’s Viceroy Research. Read more

Auditor KPMG recently said it did not have enough evidence to refute all the claims made against the company.

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On Saturday, Adler said the resignations of board members Thilo Schmid, Thomas Zinnöcker and co-CEO Thierry Beaudemoulin had been accepted, on the understanding that they would stay on until the company’s annual general meeting on Saturday. June 29, then that they would be re-elected.

Until June, the Board of Directors will therefore consist of Chairman A. Stefan Kirsten, Beaudemoulin, Schmid and Zinnöcker.

The company released its annual results on Saturday.

Adler said on Friday the company had received notice from auditor KPMG that it would issue a “disclaimer of opinion” on the consolidated financial statements and annual accounts for 2021.

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Reporting by entrepreneur Sabahatjahan in Bengaluru; Editing by Hugh Lawson

Our standards: The Thomson Reuters Trust Principles.

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