OHL Mexico says its audits show concessions comply with law
MEXICO CITY, July 16 (Reuters) - OHL Mexico said on Thursday that audits it commissioned after becoming embroiled in a corruption scandal showed that the terms of two concessions it holds comply with the law.
The company, a subsidiary of Spain's OHL, has been battered by corruption allegations since recordings were first leaked in late April appearing to show its executives discussing overcharging the government for a highway concession.
OHL Mexico said on Thursday that the recordings had been edited to distort their meaning.
The audits, which the board asked consultants KPMG and FTI Consulting as well as law firm Jones Day to carry out, looked at two highway concessions in the State of Mexico as well as the company's general control and compliance codes.
The companies recommended that OHL Mexico strengthen its compliance with a code of ethics as well as its internal audit process.
OHL Mexico said that its external auditor Deloitte deemed its accounting practices in compliance with international standards. An investigation by its parent company OHL in May also found no wrongdoing.
Probes started by the State of Mexico government and the securities regulator the CNBV have yet to report results. (Reporting by Christine Murray; Editing by Ken Wills)
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