KPMG auditors refuse to certify the 2021 financial statements

Dusseldorf, Berlin It is just a few lines that plunge the Adler Group SA real estate into an existential crisis. KPMG auditors did not see themselves in a position to issue an audit opinion for the consolidated financial statements and the 2021 individual financial statements, Adler announced at 9:13 p.m. in an ad hoc announcement. Therefore, KPMG will issue a disclaimer of opinion. However, the group intends to publish the audited financial statements on Saturday and thus fulfill its reporting obligations under the terms of the existing bonds.

Rejection notices from auditors are extremely rare. In Adler, the crisis is fully escalating, which began in October 2021 with allegations of fraud and manipulation by British shortshoe seller Fraser Bering. The group then commissioned a special investigation from the audit firm KPMG.