Noble taps PwC for valuation review

摘要

Noble group has formed a committee to review the way it values its assets after a volley of complaints from critics claimed that the commodities trader's accounting practices did not accurately measure the true worth of key assets. Noble last week said that its board of directors, "in the interests of transparency", had hired a third party to review its mark-to-market models and valuations. The new committee comprises Noble's four nonexecutive board members, Paul Brough, Irene Lee, Richard Margolis and Christopher Pratt. They, in turn, hired PricewaterhouseCoopers to vet the company's "governance framework", in addition to its valuation models. The Hong Kong-based, Singapore-listed company has had to answer many questions from multiple critics before last week about the price tag it puts on its assets.