Noble Group Starts Third-Party Model Review
Noble Group Ltd, under scrutiny for its accounting methods, said on Tuesday that it had commissioned a third-party review of its mark to market (MTM) models and valuations "in the interests of transparency."
It said it had set up an independent committee which appointed PricewaterhouseCoopers to conduct an assurance review of its MTM models, valuations and governance framework.
The Singapore-listed commodities trader has rejected allegations from Iceberg Research that it inflated assets by billions of dollars through aggressive accounting.
Reporting By Aradhana Aravindan