FMA looking into Pyne Gould's accounts after company says most of 2014 profit wasn't received

FMA looking into Pyne Gould's accounts after company says most of 2014 profit wasn't received
By Jonathan Underhill Feb. 2 (BusinessDesk) - Pyne Gould Corp's 2014 accounts are being looked into by the Financial Markets Authority after the asset management firm controlled by managing director George Kerr recognised $22 million as profit, the bulk of earnings for the year, which it never received. The company reported profit of $26.6 million for the year ended June 30, 2014. Notes to its accounts, which were released more than a month late on Nov. 3 resulting in the shares being temporarily suspended, show that the profit was largel...