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Acer tanks on audit issue
SHARES in the world’s second-biggest PC maker Acer have dropped after it said it would write off $150m (£91.7m) because an internal audit found “abnormalities” in its accounts.
Acer’s shares fell by seven per cent in Taiwan, the maximum allowed by the stock exchange, in response to a statement that said it needed to set aside the money after an internal audit revealed the problem.
The company also said it would cut 300 jobs in Europe.
Acer’s shares have struggled since it cut its sales forecasts in March.
That caused its stock to plunge 18 per cent within just a few days, and triggered the resignation of its chief executive.
Less than a month later it reported a 64 per cent fall in first-quarter net profit.