Adler - comment

The company is finally initiating the appointment of an auditor for its holdco Adler Group SA. AVEGA Revision S.à.r.l. has sent a declaration of acceptance. Adler will be audited by a patchwork of accounting firms, notably including Rödel & Partner, who are already auditing the principal German subsidiaries. Clearly this is not as good as finding a single reputable audit firm that would take on the job, but for now it’s the best possible outcome and - provided they can come to an audit conclusion - ensures the company’s compliance with credit documentation.