Agricultural box audited Coruche – Reuters

Agricultural box audited Coruche – Reuters

Banking financial audit and asset already takes place

Agricultural Box Coruche audited

Banking records over a forensic audit with management being suspended

by Peter H. Gonçalves

Agricultural Box Coruche will undergo a forensic audit by the Central Agricultural Credit Bank Mutual. This audit begins once you finish another that is in progress on the financial position of the bank. The decision comes following an order from the Bank of Portugal, after the month of March the Central Box have decided to intervene in the Agricultural Coruche box. At the time it was decided to suspend the administration of the Box Coruche, headed by Diogo Diamond.

Official source Agricultural Credit ensures that “the audit relates to the intervention enacted last March by the Caixa Central, and not has absolutely no relationship with GES (Espírito Santo Group) or the BES. ” At this time, there is an ongoing equity and financial audit, when completed, will give the starter forensic audit, resort when irregularities in the procedures followed are detected.

It was not possible to ascertain whether this is one of four forensic audits announced by the Bank of Portugal – in addition to the BES, it is known that Montepio is also being targeted by one of these procedural inquiries – taking into account that this was not determined by the regulator but only authorized by it, ran the newspaper economic ‘Oje’.

Active Box Coruche represents only 0.5 percent of the value of the total consolidated assets of the Agricultural Credit Group, which is EUR 14 600 million.