KPMG’s auditors refuse to certify the 2021 financial statements

Dusseldorf, Berlin It is just a few lines that plunge the Adler Group SA real estate group into an existential crisis. KPMG’s auditors were unable to issue an audit opinion for the consolidated financial statements and individual financial statements for 2021, Adler announced at 9:13 pm in an ad hoc announcement. KPMG will therefore issue an opinion disclaimer. However, the group intends to publish the two audited financial statements on Saturday and thus fulfill the reporting obligations under the outstanding bonds.

Reports of disclaimers by auditors are extremely rare. In Adler, the crisis, which began in October 2021 with allegations of fraud and manipulation by British shorts seller Fraser Perring, is completely degenerating. The group then commissioned a special investigation to the auditing firm KPMG.