Ernst & Young to conduct value assessment in Cypriot co-ops

Ernst & Young to conduct value assessment in Cypriot co-ops

 

Review by Christos T. Panagopoulos –

The Ministry of Finance has selected audit firm Ernst & Young to carry out a fair value assessment of the Cyprus Cooperative Institutions (Co-ops), a term of the a €1.5 capital injection given by the State to cover their estimated capital shortfall.

According to CNA sources, the firm Ernst & Young had submitted the lowest bid of the three other firms invited to express interest, namely KPMG, PWC and Deloitte.

Source: CNA