The Financial Markets Authority has knocked on the door of dairy company Fonterra, seeking information over concerns about its shock asset writedowns announcement and 2019 year financial statements.

The FMA's unusual confirmation to the Herald about its inquiries follows Fonterra's largest farmer-shareholder Colin Armer making a formal complaint to the regulator about Fonterra's audited accounts for, and including, the years 2015-2018.

Armer, a former Fonterra director, claims there have been inconsistent valuation methods for the carrying values of Chinese investment Beingmate, which is listed on the Chinese stock market, and China Farms. He has also asked the FMA to investigate

Advertisement
Advertisement