Telekom Austria has cleared its management boards of any wrongdoing, following a probe into suspicious accounting practices at the firm.
The telco’s supervisory board has recommended that it, and the management board, be discharged at the firm’s AGM on May 23, after a five month investigation by BDO Germany found no evidence against current members of either board.
Legal experts who examined BDO’s findings also agree there is no evidence prompting the dismissal of board members.
“According to this, there is no information before us which could, in our opinion, induce the supervisory board or management board to reconsider their proposal,” a company statement revealed.
Management called in BDO investigators in December, to probe suspicious financial activities between 2000 and 2008, and potential breach of duty by board members between 2000 and 2010.