(News Bulletin 247) – The Credit Suisse title fell sharply again on Tuesday after the private bank announced that it had identified certain “weak points” in its accounts for the 2021 and 2022 financial years.
In its latest annual report, published this morning, the group acknowledges that the internal control relating to the presentation of its financial information “has not been effective” for the past two years.
These problematic elements relate more particularly to the assessment of risks in the financial statements, specifies Credit Suisse, as well as to its ability to identify possible “material inaccuracies” within its results.
PricewaterhouseCoopers, the auditor of the establishment’s accounts, thus specifies that it has issued an “unfavorable opinion” on the quality of the internal control that characterized the financial reports of its client.
For its part, Credit Suisse ensures that its consolidated accounts for the financial years 2021 and 2022 represent “adequately” its financial situation.
Last Thursday, Credit Suisse had to postpone the publication of its 2022 annual report in order to have more time to assess the impact of certain remarks made to it by the American SEC.
Around 10:00 a.m., the action of the Swiss investment bank yielded 1.7%, showing the largest drop in the SMI index, after having already dropped by almost 10% the day before amid concerns related to bankruptcy. of the American SVB.
The title has lost nearly 20% of its value since the beginning of the year.
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