DS Smith rules out accounts problem despite media attention

by Kevin Reed

More from this author

17 Dec 2012

  • Comments

A LISTED packaging material and office supplies group has told the stock exchange that it is moving towards finalising its accounts, as press reports today commented on the issue.

DS Smith is continuing the process of finalising its accounts following its acquisition of SCA Packaging. The accounts finalisation is part of a "standard method" of determining the value of SCA's assets and liabilities on completion of the purchase.

Earlier this month, the board received anonymous allegations about the accounts preparation, at which point it chose Allen and Overy, as well as forensic specialists from Alix Partners, to investigate. The allegations were found to be without substance and did not warrant further investigation.

Its share price fell 3p in this morning's trading, to 211.5p, valuing the company at £1.96bn.

For more companies and markets data, visit the Share Price Centre

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.