Toshiba shares jump on report that auditor to sign off on results

Toshiba Corp's auditor will sign off on its annual financial results after months of being at odds with the embattled conglomerate - in a step that would lessen the risk of a delisting, the Nikkan Kogyo Shimbun newspaper reported on Monday.

The report sent shares in Toshiba jumping 7 percent in morning trade.

PricewaterhouseCoopers Aarata has not endorsed Toshiba's books since being appointed as its auditor in April 2016. A major sticking point has been a query from PwC over whether Toshiba should have recognized multi-billion dollar losses at U.S. nuclear arm Westinghouse earlier than last December, sources familiar with the matter have said.

PwC will either issue a so-called "opinion without qualifications" - given where there are no problems in a company's accounts - or an "opinion with qualifications" - given where only minor problems exist - by a bourse-imposed deadline on Thursday, the business daily said, without citing sources.

(REUTERS)