The bosses of Natural Dairy Holdings, the Chinese company looking to buy the Crafar family farms, have met to discuss the implications of the company’s auditor refusing to fully sign off on its accounts.

The long-overdue results have finally been released to the Hong Kong Stock Exchange, but accounting firm Morison Heng has withheld its full endorsement, because of a lack of ‘reliable financial information.’

Natural Dairy spokesperson Bill Ralston says the company is confident of its own record, and the biggest concern is time-wasting costs.

“It’s only the time delay that worries Natural Dairy.

"They’re confident that there is no irregularities, which is what the SFO may or may not be looking for, but they’re just concerned because these delays are costing them money."

Natural Dairy also has a looming Serious Fraud Office inquiry to deal with. 

The SFO is investigating transactions between Natural Dairy and its parent UBNZ.

The Overseas Investment Office is holding back on approving Natural Dairy’s Crafar deal until the investigation is complete, but the company has taken advice the SFO probe doesn’t concern its own conduct.

"The meeting was about running through the inquiries the SFO may make, and coming up with what documentation they might need to supply.”

SFO chief executive Adam Feeley says he doesn’t understand how Natural Dairy reached that conclusion, and the company is definitely part of the investigation.