Koninklijke Ten Cate NV : TenCate and KPMG distance themselves from VEB reporting
(Thomson Reuters ONE) -
TenCate and KPMG have distanced themselves from the report in a recent
newsletter of the Vereniging van Effectenbezitters (VEB) [Asociation of
Securities Holders] in respect of an alleged statement by KPMG Accountants
during the TenCate Annual General Meeting of Shareholders held on Thursday, 19
April 2012.
During this meeting a question was asked by the VEB relating to the risk of
impairment of goodwill. The question was asked with reference to the decline in
the revenues and result of TenCate Grass. The KPMG auditor present confirmed
during the meeting the fact that the amount of intangible assets published in
the 2011 annual report gives a true and fair picture of the valuation and that
this was expressed correctly in the notes to the consolidated financial
statements.
As part of the financial management and the risk management of TenCate, as is
customary, 'impairment tests' are regularly conducted, which test and
substantiate the goodwill shown on the TenCate balance sheet. These tests were
also conducted and were discussed with the TenCate Supervisory Board and with
the external auditor KPMG during 2011, all of which were approved.
Royal Ten Cate
Almelo, the Netherlands, Monday 23 April 2012
Press release in PDF:
http://hugin.info/130798/R/1604900/507994.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Koninklijke Ten Cate NV via Thomson Reuters ONE
[HUG#1604900]
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Datum: 23.04.2012 - 06:51 Uhr
Sprache: Deutsch
News-ID 1105946
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