NETHERLANDS: Ahold reveals new accounting irregularities at US Tops
Shares in Royal Ahold have taken another hit as the Dutch retailer said it estimated an additional US$29m reduction of pre-tax earnings as a result of internal investigations into accounting irregularities at its US operations. Ahold announced that internal forensic accounting investigations at 14 of its operating and joint venture companies were substantially complete and expected the investigations at the remaining three units to be completed within the next two weeks.
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