There is much in the news today about the decision of the Serious Fraud Office to start criminal proceedings against Olympus and its UK subsidiary Gyrus Group Ltd: see here. The charges relate to one of the offences contained in the Companies Act 2006: the offence within section 501 of making - whether knowingly or recklessly - a misleading, false or deceptive statement to an auditor. Gyrus Group faces four charges and Olympus faces one charge. The first hearing will take place at Westminster Magistrates' Court on 10 September 2013. A statement issued by Olympus states that the charges concern representations made to the auditors of the subsidiary in documents relating to its financial accounts for the fiscal years 2009 and 2010: see here (pdf).
Wednesday, 4 September 2013
UK: SFO proceedings against Olympus and subsidiary
There is much in the news today about the decision of the Serious Fraud Office to start criminal proceedings against Olympus and its UK subsidiary Gyrus Group Ltd: see here. The charges relate to one of the offences contained in the Companies Act 2006: the offence within section 501 of making - whether knowingly or recklessly - a misleading, false or deceptive statement to an auditor. Gyrus Group faces four charges and Olympus faces one charge. The first hearing will take place at Westminster Magistrates' Court on 10 September 2013. A statement issued by Olympus states that the charges concern representations made to the auditors of the subsidiary in documents relating to its financial accounts for the fiscal years 2009 and 2010: see here (pdf).
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