Fuji Xerox irregularities no breach of Government contracts

Accounting irregularities expected to cause $285 million of losses at Fuji Xerox do not breach any contracts the company has with the Government.

Fuji Xerox, which has been paid more than $55m for all-of-government contracts since 2012, also met the Government’s financial due diligence before entering contracts for printing, technology, and office supplies, New Zealand Government Procurement (NZGP) says.

The company recorded a pre-tax loss of $51m last year.

Fuji Xerox’s Government contracts have been in the spotlight since Japan-based Fujifilm Holdings said last month it had set up an independent investigation committee to review the appropriateness of accounting practices at Fuji Xerox New Zealand (FXNZ).

from Ellie NZ Rss http://www.stuff.co.nz/business/92096331/Fuji-Xerox-irregularities-no-breach-of-Government-contracts

from
https://ellieplume83.wordpress.com/2017/05/02/fuji-xerox-irregularities-no-breach-of-government-contracts/