BDO will stop auditing Pescanova's accounts. (Photo: BDO España)
Pescanova accepts BDO resignation as auditor
(SPAIN, 10/15/2014)
Pescanova informed the National Securities Market Commission (CNMV) that it accepted the resignation presented by BDO Auditors as the auditor of the annual accounts of the company and its depending subsidiaries for this year and for 2015.
It must be remembered that in March, the Institute of Accounting and Auditing (ICAC) under the Ministry of Economy opened disciplinary proceedings against BDO for 2011 accounts. The ICAC cited a "potential breach of the technical auditing norms" on the failure to obtain evidence, planning and "assessment of the effect on the financial statements and the audit report on omissions in the consolidated annual accounts," reported Cinco Dias.
The Spanish multinational firm also announced the appointment of Diego Fontan Zubizarreta, Fernando Herce Melendrez and Alejandro Legarda Zaragüeta as members of the Audit Committee.
It is anticipated that the new auditor of the company is Ernst & Young, who was already in charge of controlling Pescanova accounts between 1990 and 2001, the newspaper La Voz de Galicia informed.
Meanwhile, the chairperson of the Monitoring Committee of Pescanova, Jacobo González-Robatto ensured in recent statements that the creditors’ agreement is being met "to the letter" and felt that the situation of the Galician multinational firm will be "fully normalized" in the second quarter of 2015.
The entrepreneur explained that the terms "are long" because the procedures "are not dependent on the company or the creditors." Besides, he said that the process is "very complex" because Pescanova faced a "very traumatic" bankruptcy, EFE agency reports.
González-Robatto praised the "hard work" of the creditor banks, mainly the Spanish ones, noting that sales are "sustained" and that export earnings are "slightly better".
Related articles:
- BDO will continue auditing Pescanova
By Analia Murias
editorial@seafood.media
www.seafood.media
Information of the company:
Address:
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Calle José Fernández López, s/n
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City:
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Chapela - Redondela
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State/ZIP:
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Pontevedra, Galicia (36320)
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Country:
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Spain
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Phone:
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+34 986 818 100
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Fax:
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+34 986 818 220
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E-Mail:
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info@pescanova.es
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