It Was Revealed That Fisker Kept Accounts Like a Grocer’s Ledger

Electric car initiative fisker, recently encountered an unprecedented problem while delivering their new models. Company, in accounting processes Due to the laxity, it was completely confusing for a while who was paying how much. The situation that emerged in December took months to resolve.

In the company’s own internal audit, the accounting department did not keep accurate records of payments appeared. For this reason, it took a long time to determine who paid how much. Fortunately, after months of work, most of the payments were determined.

Revealed in internal audit

Because the checks given by some customers for payment could not be collected on time validity period has expired appeared. Later, it was revealed that the advance payments made by some people were recorded incorrectly or incompletely. These records have also been corrected. On the other hand, some customers received vehicles due to these deficiencies, even though they had not made any payments.

After internal auditing, it is one of the big four of external auditing. PwC, requested more documentation from Fisker regarding the matter. The documents Fisker previously submitted were not sufficient. It was stated that not all of the collected documents were sent, and not all of those sent were sent to the right place.

It is of great importance for companies to keep accurate accounting records, especially for publicly traded companies. Let’s see how this mistake will affect Fisker.