WELLINGTON, Oct 2 (Reuters) - A New Zealand ministry said it had suspended its printing services contract with Fuji Xerox (NYSE:XRX) New Zealand and terminated an offices supplies contract after its review of an investigation into irregular accounting practices at the firm.
Fujifilm Holdings Corp 4901.T said in June a third-party investigation found financial incentives at the unit encouraged management and staff to book sales earlier than standard practice, artificially bumping up income. the suspension, Fuji Xerox New Zealand cannot enter into any new printing services contracts from government departments until certain conditions are fulfilled, the Ministry of Business, Innovation and Employment said in a statement. It did not disclose those conditions.
The moves follow a voluntary suspension from seeking new government contracts that the Fuji Xerox agreed to earlier this year.