Publicis: laments attempt to upset group
(CercleFinance.com) - Publicis Groupe has announced that it has been subject to an attempt to upset the group, due to the sending of an anonymous letter to its internal auditors and a number of financial analysts.
This letter says that Publicis overestimated its organic growth in 2016 and 2017 by an early application of the accounting standard IFRS 15, a charge that the group formally disputes, saying that it is based on an erroneous interpretation of accounting standards.
Seeing a desire to shake up the reality of its results, the media group informed the AMF about this and is also studying taking possible legal action to take against this attempt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
This letter says that Publicis overestimated its organic growth in 2016 and 2017 by an early application of the accounting standard IFRS 15, a charge that the group formally disputes, saying that it is based on an erroneous interpretation of accounting standards.
Seeing a desire to shake up the reality of its results, the media group informed the AMF about this and is also studying taking possible legal action to take against this attempt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.