Accounting Tops Ahold’s Concerns
By George Anderson
Those hoping that Ahold’s accounting scandals would end with US Foodservice and Disco appear as though they will be disappointed.
Reuters reports Ahold has found what it describes as “intentional accounting irregularities involving earnings management and misapplications of generally accepted accounting
principles” at Tops Markets and other unidentified units.
Moderator’s Comment: Should the retail grocery industry adopt a single standard of accounting rules? Does the industry need to create its own accounting
overview body?
An unidentified Amsterdam trader told Reuters this news meant “Now we have to worry about the possibility that they might uncover more and more problems
as they go through the books.”
How many grocery stores today would we discover have their “accounting irregularities” after a thorough audit of their books? [George
Anderson – Moderator]