KPMG’s auditors refuse to certify the 2021 financial statements

Dusseldorf, Berlin There are only a few lines that plunge the real estate group Adler Group SA into an existential crisis. The auditors of KPMG did not see themselves in a position to issue an audit opinion for the consolidated financial statements and the individual financial statements for 2021, Adler announced at 9:13 p.m. in an ad hoc announcement. KPMG will therefore issue a disclaimer of opinion. Nevertheless, the group intends to publish the two audited financial statements on Saturday and thus fulfill the reporting obligations under the terms of the outstanding bonds.

Notices of refusal from auditors are extremely rare. At Adler, the crisis, which began in October 2021 with allegations of fraud and manipulation by the British shortseller Fraser Perring, is escalating completely. The group then commissioned a special investigation from the auditing company KPMG.