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Audit under scrutiny after bankruptcy fallout at Danish auction house

Following the bankruptcy of a Danish auction house in July 2023, the estate's curators are now focusing on the auditing firm Beierholm, which reviewed the company's accounts in 2021 and 2022.

The trustees of Lauritz.com , Rune Derno and Henrik Selchau Poulsen, have criticised Beierholm for failing to recognise significant issues in Lauritz's financial statements, particularly regarding uncertainties over the company's ability to continue operations. The auditors had declared the accounts to be fair, but the trustees believe this to be a "responsible mistake."

As a result, the bankruptcy estate has filed a claim for 22 million kroner against Beierholm. In addition, a formal complaint will be lodged with the Danish Board of Auditors. This claim is part of the broader efforts to recover assets, with a total of 185 million kroner being sought from the estate. Of this, 50 million kroner is owed to customers who have not received payment for goods sold.

Beierholm has yet to comment on the claim.

The ongoing legal actions highlight the complex financial challenges surrounding Lauritz.com's collapse, with the curators working to address outstanding debts and ensure accountability in the handling of the company's financial oversight.

Source: www.wood-supply.dk

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