General Capital (GEN:NZ) Announces Discussions on Goodwill

Financial services group General Capital (GEN:NZ) is in discussion with the FMA concerning the carrying value of Investment Research Group Ltd (IRG) in the books of General Capital.

The issue was driven by the Audit Qualification of the 2022 accounts.

Managing Director Brent King said the amount in question is less than 1% of total assets and they are confident the correct processes have been followed in previous accounts.

They are working through a response to the FMA and will update the market as appropriate.