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Fujifilm's accounting headache spreads to Australia

More irregularities at Fuji Xerox raise governance concerns

TOKYO -- Questions over Fujifilm Holdings' corporate governance have deepened with the discovery of accounting irregularities at an Australian unit, highlighting the possibility of inadequate internal controls at the Japanese multinational.

The Japanese imaging group launched an independent investigation after discovering questionable bookkeeping of equipment leases at Fuji Xerox's New Zealand arm. Accounting problems have now been found at Fuji Xerox Australia and in Japan, according to a source.

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