DGAP-News: Adler Group welcomes Bafin's examination order for the 2021 financial statements of ADLER Real Estate AG
Luxembourg, 22 June 2022 Adler Group S.A. ("Adler Group") welcomes the examination order (Prfungsanordnung) of the German Federal Financial Supervisory Authority ("Bafin") for the consolidated financial statements as of 31 December 2021 and the combined management report for the financial year 2021 of its subsidiary, ADLER Real Estate AG ("ADLER Real Estate").
- Luxembourg, 22 June 2022 Adler Group S.A. ("Adler Group") welcomes the examination order (Prfungsanordnung) of the German Federal Financial Supervisory Authority ("Bafin") for the consolidated financial statements as of 31 December 2021 and the combined management report for the financial year 2021 of its subsidiary, ADLER Real Estate AG ("ADLER Real Estate").
- A corresponding examination order was delivered to ADLER Real Estate by Bafin.
- According to Bafin, the examination order has been issued against the background of KPMG AG auditing firm, auditor of ADLER Real Estate, disclaiming on an audit opinion on the consolidated financial statements of ADLER Real Estate.
- This included the conclusion of the review by KPMG Forensic with the requirement to submit audited consolidated financial statements of Adler Group and ADLER Real Estate for the 2021 financial year by 30 April 2022, the disclosure of the findings of the review and their reflection in the consolidated financial statements, and the comprehensive communication of the structural and procedural measures to improve transparency and corporate governance.