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Atos Drops the Most in Over Two Years on Accounting Errors

  • Company says mistakes in U.S. subsidiaries aren’t material
  • French firm’s shares fall the most intraday since October 2018
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Atos SE shares fell the most since 2018, knocking more than 1 billion euros ($1.2 billion) off its market value, after the French IT company disclosed that auditors had found accounting errors for two of its U.S. entities.

While the mistakes weren’t “material” to its 2020 financial statements, auditors found “several matters relating to internal control weaknesses over financial reporting process and revenue recognition,” the Paris-based company said in a statement on Thursday.