The review, conducted by Ernst & Young, found the group’s interim results of 23 March 2000 were overstated by some £10m as a result of accounting errors, the majority of which related to prior years.
Errors occurred when the company breached normal accounting practice by treating short-term contracts on the same basis as long-term contracts. The irregularities are believed to date from four years before the group’s successful floatation on the stock market.
Semple Cocrane intends to reissue its interim statement by the end of June.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel