Clayton Daley, CFO of the Chicago-based consumer goods giant Procter & Gamble (P&G) insisted late on Friday that the stock market rumours about the firm’s accounting proceedures had no foundation.
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A decline in the company’s stock on Friday was attributed to rumours suggesting that there were potential accounting irregularities.
“This is strictly a rumour with absolutely no foundation,” Daley said in a statement: “We have not been contacted by any authorities whatsoever regarding our accounting practices.
“In fact, we have been recognised for the clarity of our financial statements by individuals in both the investment and academic communities.”
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