VGL
02/03/2015 15:06
GENERAL
PRICE SENSITIVE
REL: 1506 HRS Vista Group International Limited
GENERAL: VGL: VGL - Possible technical accounting error
2 March 2015
Possible technical accounting treatment error in 2014 financial statements
Following the release of its audited financial statements on Friday 27
February 2015, and after the market closed on both the NZX and ASX, Vista
Group management was advised by its auditors, Grant Thornton, that they now
consider there may be a technical accounting treatment error in the audited
financial statements.
If an adjustment is required, it would result in Vista Group having to
increase the value of Goodwill, in the Statement of Financial Position of the
Group; the resulting increase to reported profit will flow through the Group
Statement of Comprehensive Income to retained earnings.
The Board wishes to emphasise that any adjustment is a technical accounting
item and will have no impact on the underlying trading results or cash
position of Vista Group.
Vista Group is working with its advisors to validate whether any adjustment
is required. Vista Group will provide an update to the market at the
conclusion of this process with the details of any adjustment.
Contact:
Brian J Cadzow
Director - Finance and Legal
Email - [email protected]
Phone - +64 9 984 4570
End CA:00261344 For:VGL Type:GENERAL Time:2015-03-02 15:06:23
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
