Adecco Appoints Independent Counsel to Investigate Accounting Issues, Delays FY 2003 Results
Adecco, a global leader in HR solutions and a Forbes 500 company, has appointed an independent counsel to investigate certain accounting and compliance issues. The investigation comes as the company delays the announcement of its FY 2003 audited results, with the global entry not expected to be completed by February 4, 2004.
Adecco, registered in Switzerland and listed on the Swiss Exchange, NYSE, and Euronext Premier Marché, has a vast network of 28,000 employees and 5,800 offices in 68 territories. The company is facing possible issues in certain countries, which are currently being resolved. Material weaknesses in internal controls have been found in North American operations, contributing to the delay in the 2003 audit and global entry login.
The company is unable to predict when the audit will be completed, leading to a postponement of the announcement of its FY 2003 audited results. Additional information can be found on the company's website at www.adecco.com.
Adecco, a global HR solutions leader, is addressing accounting and compliance issues, with an independent counsel investigating the matter. The company's vast network and global presence are unaffected, and further details can be found on their website. The completion of the FY 2003 audit is pending, with no specific timeline provided for global entry.
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