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Adler Auditor KPMG Quits After Refusing Opinion on Accounts

  • Resignation contradicts earlier statement from Adler chairman
  • Shares closed at record low on Tuesday after a 12% plunge
KPMG offices in the Canary Wharf business and shopping district in London.

KPMG offices in the Canary Wharf business and shopping district in London.

Photographer: Simon Dawson/Bloomberg

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KPMG will quit as auditor of Adler Group SA, the embattled German real estate firm, after refusing to give an opinion on its 2021 accounts. 

The resignation came hours after Adler Chairman Stefan Kirsten told reporters that it was planning to reappoint KPMG to audit its 2022 results. The decision is a “great surprise to us and is disappointing as well as irritating,” Kirsten said in a statement.