Deutsche Forfait says auditor won't approve 2013 accounts

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The Office of Foreign Assets Control (OFAC), part of the U.S. Treasury that oversees trade sanctions based on U.S. foreign policy, has accused DF Deutsche Forfait AG of having violated trade sanctions against Iran. The company has denied the charges.

DF Deutsche Forfait said in a statement late on Friday that its auditor, BDO AG Wirtschaftspruefungsgesellschaft, had expressed an adverse opinion on its 2013 accounts.

Auditors commonly issue an adverse opinion when it finds that financial statements are misstated or do not conform with accounting standards.

"The company continues to do everything in its powers to be removed from the OFAC sanctions list in order to regain full operative capacity as soon as possible," DF Deutsche Forfait said in a statement late on Friday. (Reporting by Maria Sheahan)

FILED UNDER: Financials

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