(Reuters) - Germany's audit office for accounting has informed minerals company K+S of preliminary findings in a probe of the company's financial statements, K+S said on Thursday.
The German Financial Reporting Enforcement Panel (DPR) issued a preliminary opinion that material assumptions underlying the value in use determined for an impairment test of the company's potash and magnesium products cash-generating unit were not appropriate, K+S said.
"Following its own comprehensive review and the involvement of external advisers, K+S considers these to be unfounded," the company said.
K+S said it has provided the DPR with additional information while proceedings are ongoing.