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IT

South Africa bourse fines EOH ZAR 7.5 mln for falsifying financial results

Thursday 30 July 2020 | 12:13 CET | News
South Africa's Johannesburg Stock Exchange (JSE) has imposed a ZAR 7.5-million fine on ICT services group EOH for material errors and inaccuracies contained in its 2017 and 2018 financial statements, but has suspended ZAR 2.5 million of the fine for a period of five years. EOH said it accepted the JSE's findings that the financial statements for those years had not complied with International Financial Reporting Standards (IFRS) and were incorrectly prepared. It acknowledged that, as a result, incorrect, false and misleading information was disseminated to the market through those statements.

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Categories: IT
Countries: South Africa
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