Jamaica Broilers Group says an independent forensic review into accounting irregularities, previously identified in its U.S. operations, has found no additional transactions or accounting irregularities.
The company says the review of electronic communications has been completed, with the findings disclosed to the Board and its external auditors, and that, based on the review, no further adjustments or disclosures are required to the company's consolidated financial statements.
An independent review of Jamaica Broilers' corporate governance framework has also been completed.
The Board will meet in the coming weeks to examine the findings and determine what remedial measures should be implemented.
The company says it has already strengthened financial oversight, including establishing a Group Finance Committee, enhancing reconciliation and reporting controls and engaging IBM to strengthen financial systems controls.
An independent internal audit programme for the company's American operations is also expected to begin by October 31.
Jamaica Broilers says it will provide a further update, including its approved remediation programme and implementation timeline, by November 30.
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