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Aryzta criticised by accounting watchdog over borrowing agreement 'breach' disclosures

 

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Stock market analysts have been closely watching Arytza’s covenants as earnings at the group fall

Stock market analysts have been closely watching Arytza’s covenants as earnings at the group fall

Stock market analysts have been closely watching Arytza’s covenants as earnings at the group fall

The accounting watchdog Iaasa has given embattled food giant Aryzta a rap on the knuckles for failing to comply in full with accounting rules.

According to a report published by the Irish Auditing and Accounting Supervisory Authority, Aryzta did not fully comply with technical accounting requirements in relation to the impairment of assets, details on rebates and discounts given to customers and disclosures in relation to its lending agreements. Stock market analysts have been closely watching Arytza's covenants as earnings at the group fall.


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