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PPCS says its accounts are OK

By Chris Hutching

Friday 15th August 2003

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Dunedin meat processor PPCS says that events concerning a disciplinary hearing against an Ernst & Young auditor had no bearing on the financial accounts of the company.

Chief operating officer Keith Cooper said yesterday the hearing involved an auditing report but had no effect on the numbers that were stated in the accounts two years ago and Ernst & Young had reviewed its work and was satisfied the accounts were properly presented and audited. Others associated with PPCS said the disciplinary hearing was part of a wider dirty-tricks campaign by Richmond.

In a newsletter to its farmer suppliers, PPCS says it was disturbing to see the media recycling issues related to PPCS's previous non-compliance, which were conceded for the purposes of the appeal, while ignoring the long list of tactics Richmond undertook to repel PPCS as a suitable suitor. These were recorded in court but not reported in most media. PPCS describes a false affidavit proffered by a lawyer associated with Richmond.

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