AtoS SE: Bad comedy for April 1st

AtoS SE: Bad comedy for April 1st

There really isn’t a silver lining when it comes to telling bad news about their accounting to a listed company. The dessert never works and there is no total transparency. Not in between. This morning, Atos was more in the latter category with a press release explaining what its auditors had released. “Two US law firms representing 11% of consolidated sales by 2020 require additional reserves and additional work to control related work“The panel further stated that the two companies involved were Atos ID Solutions and Services Inc. and Atos ID Outsourcing Services LLC, and they have been ridiculed.”Many weaknesses in internal control“, Because of this”Many accounting errors“And one”Risk of avoiding restrictions“.” Accountant, error, internal control, perimeter, weakness … “The semantic cut of the financial crisis is almost over.

The fall in stocks reflects the hatred of investors for this type of risk. Atos insists that the consolidated accounts are certified and that no major irregularities have been identified “to date.” However, there is nothing significant for the companies involved, although it accounts for 11% of consolidated sales and 9% of the operating margin (i.e. about $ 1.23 billion and $ 90 million, respectively, based on our estimates). The Committee has appointed external agencies to carry out additional work and external audits requested by statutory auditors.

This type of case will always make markets feel like a company, even if subsequent audits find minor concerns. We recall that Aldron (since it was acquired by Capcomini) three years ago was greatly affected by exposure to accounting fraud at an American company, Arizant. Investors are quick to assume that a company without internal control should not do that.

Bad comedy on April 1st

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About the Author: Cory Weinberg

"Alcohol evangelist. Devoted twitter guru. Lifelong coffee expert. Music nerd."

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