Olympus files corrected earnings for past 5 years

14th December 2011, Comments 0 comments

Scandal-hit Olympus on Wednesday filed corrected earnings reports for the past five fiscal years as the company grapples with an accounting scandal that has tainted Japanese corporate governance.

The firm corrected results up until March 2011 in filings to the Financial Services Agency. It has yet to file the July-September 2011 results that are required in order to avoid delisting from the Tokyo Stock Exchange.

Two auditing companies, past and present, approved the corrected earnings reports, Dow Jones Newswires reported.

Ernst & Young ShinNihon LLC. gave the go-ahead for earnings through to March 2010 and the past fiscal year, while KPMG Azsa LLC. signed off on the the three fiscal years through to March 2009 with some qualifications.

© 2011 AFP

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