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UK’s Revolution Beauty says accounting probe shows many concerns
Jan 13 (Reuters) – An unbiased investigation into Revolution Magnificence Group’s (REVB.L) accounts discovered various fears, together with in excess of specific historic revenue, stock provisioning and private financial loans manufactured by a former CEO, the company mentioned on Friday. The British company’s previous main government Adam Minto stepped down in November amid the accounting probe. Amongst numerous issues flagged, the investigation uncovered challenges with the firm’s acquisition of Medichem in Oct 2021 for 26 million lbs($31.73 million), payment of which only 7 million lbs . was produced with 19 million pounds nonetheless overdue, Revolution stated in a assertion. It said the auditor, BDO LLP, also elevated problems about personal…