Tongaat to pursue claims against execs after accounting probe
Undesirable accounting practices resulted in revenue being recognised in earlier reporting periods, with 10 executives implicated
29 November 2019 - 13:18
Sugar producer Tongaat Hulett said on Friday it was engaging with authorities and would be pursuing claims against 10 executives, after a PwC probe identified a number of undesirable accounting practices.
The PwC investigation identified practices that led to revenue being recognised in earlier reporting periods than it should have been, and expenses being inappropriately capitalised to assets...
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