Folli Follie says audit will be completed in August
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Luxury jewelry maker Folli Follie, whose finances are being investigated by Greek authorities while its shares have been suspended from trading, said late on Monday that a financial audit would be concluded in August.
Folli Follie, which has hired Ernst & Young to audit specific items of its 2017 financial statements, said that Alvarez & Marsal would also conduct a forensic evaluation of the most recent financial statements of its Asian subsidiaries.
Both firms are expected to complete their audits in August and Folli Follie will then mandate Ernst & Young to undertake a full review of its 2017 financial statements, it said.
Folli Follie's shares plunged in May after equity fund Quintessential Capital Management issued a report saying the company had overstated the number of retail outlets it operates worldwide and raised concerns over its...
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