VIA Optronics Uncovers Deviations in Internal Controls and Compliance
VIA Optronics conducts a review and uncovers deviations in internal controls and compliance. Actions are taken to address the findings and ensure accuracy and integrity.
VIA optronics, a leading supplier of interactive display systems based in Nuremberg, Germany, has recently conducted a comprehensive review of its internal controls and compliance. The review, which covers the period of 2017 through 2022, has revealed deviations concerning the company's founder, Jurgen Eichner, and a limited number of other employees.
The findings of the review point to discrepancies in various areas, including expense recording and reimbursement, personal transactions made using company credit cards, inadequate documentation of vehicle usage, and irregularities in vacation days. While the full extent of these potential violations remains uncertain, VIA is committed to addressing them appropriately.
In light of these findings, VIA has taken decisive action. Jurgen Eichner, who served as CEO since 2005, has been replaced as part of the company's leadership transition. VIA acknowledges that the timing of the internal review may cause a delay in filing its 2022 Form 20-F annual report with the U.S. Securities & Exchange Commission.
However, VIA remains dedicated to fulfilling its reporting obligations and anticipates submitting the form by early 2024. In recognition of these circumstances, the New York Stock Exchange has granted VIA an extended trading period through May 16, 2024.
For further information and inquiries, please contact VIA Optronics directly.
VIA Optronics is committed to maintaining strict internal controls and compliance. The recent deviations uncovered during the internal review demonstrate the company's dedication to transparency and ethical practices. VIA will continue to take necessary steps to address these deviations and ensure the accuracy and integrity of its operations.