Ricciardi accounts at the Haitong bank were corrected and almost tripled – Observer

The 2015 accounts of the investment bank of Haitong, when Jose Maria Ricciardi was chief executive, were reopened by Deloitte to correct accounting "errors" discovered by the consulting firm that replaced KPMG in checking and validating financial results . According to Jornal de Negócios, it was in his edition of Friday that there were depreciations that the administration did not recognize in the accounting at that time.

The result: with the revision of the figures, the losses of Haitong almost tripled. This means that the first report showed a downward trend in losses, from 138.5 to 35.4 million euros, as a result of a decrease in the volume of impairments and provisions by 84%. With Deloitte's assessment, the scenario becomes a different scenario: the loss of the former Banco Espirito Santo de Investimento (BESI) – which would later become Haitong – is now almost 98.3 million due to write-downs.

José Maria Ricciardi, currently in the race for Sporting's presidency and no longer connected to Haitong, explains that the change is justified by the change in the management model of the investment bank, led by Hiroki Miyazato and controlled by Deloitte . KPMG also emphasizes the change of shareholder (for control over a Chinese group) as part of the explanation and strengthens those who have been warned for this situation.

These changes are identified as & # 39; bugfixes & # 39; in the report and accounts for 2016 that were published last year. The new auditor discovered impairment losses of 5.2 million, "of which the events underlying the need to recognize an impairment occurred in 2015". That is, they should already be registered. The same applies to securities trading with a value of 4.9 million, the underlying events of which took place in 2014, according to the newspaper.

Source link

Leave a Reply