The Financial Supervisory Authority of Norway (Finanstilsynet) criticized now Mitsubishi-owned Norwegian salmon farmer Cermaq for not including the cost for feed in the list of raw material costs in its accounts in connection with the sale of Ewos.
The agency assessed Cermaq’s accounts of 2013 and 2014 in relation to the sale.
“In connection with the sale of Ewos, Cermaq presented the sustained aquaculture activity without costs for feed in its accounts," Finanstilsynet said on its website.
"This is despite its aquaculture activity will have feed costs as previously, and feed costs amount to the biggest and most significant cost component [of cost].
