display
Baden-Baden (dpa) - The leasing specialist Grenke, which is criticized for its accounting, sees itself partially relieved by the first interim results of the Bafin special audit.
The auditing company Mazars, mandated by the Federal Financial Supervisory Authority (Bafin), had not confirmed the allegation of money laundering, the company announced on Friday night in Baden-Baden.
In addition, there is no reason to doubt the legal existence and economic content of the leasing contracts with outstanding claims amounting to around 5.6 billion euros, Grenke said.
Grenke also feels relieved when looking at the criticism of the ratings of acquired franchise companies on the balance sheet.
There is no “systematic need for goodwill amortization”, it said.
The values are justifiable despite methodological deficits.
However, there is one major point of criticism from Mazars.
The Bafin special auditors criticized the fact that the franchise companies were not fully consolidated.
This should now happen for 2020, as Grenke further announced.
Mazars also objected to processes in the Grenke Bank and in the compliance organization.
display
Last year, Grenke got caught in the crossfire of short sellers on the stock market with its business model and the treatment of franchise companies.
These accused the company of manipulation.
Since then, Grenke has tried, among other things, with its own special audits such as those of KPMG or the auditing company Warth & Klein Grant Thornton (WKGT) to refute the allegations.
© dpa-infocom, dpa: 210226-99-601164 / 2