ID NEWS: Ahold investigation said to conclude USF 'middle managers' at fault

Royal Ahold's investigation into the accounting problems at its U.S. Foodservice (USF) subsidiary will "lay the blame on just a few middle managers," according to Reuters.

A "source" told the news service that the report was due later this week or early next and "very likely before" an annual shareholders meeting of The Netherlands-based food industry giant. The meeting is to take place on Tuesday, May 13.

The report is said to conclude that several USF executives, currently suspended, made "misleading bookings" of sales target monies provided by suppliers. However, "serious questions remain" about the "checks and balances" within the Columbia, MD, based broadliner unit.

Ahold has been working with White & Case, a New York law firm, and a team of forensic accountants to determine the extent of the accounting problems.


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