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Regulation

UAE’s SCA forms forensic audit committee on Drake and Scull

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The Securities and Commodities Authority said that the committee is investigating the reasons behind Drake and Scull's struggling financial position and accumulated losses.

Sunday 05, May 2019 BY KUDAKWASHE MUZORIWA

The UAE’s Securities and Commodities Authority (SCA) has formed a forensic audit committee to investigate Drake and Scull International.

Drake and Scull posted a net loss of AED 4.5 billion ($1.23 billion) in 2018, which widened from a loss of AED 1.18 billion in 2017.

 

TAGS : SCA, Drake & Scull International, forensic audit committee

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