Deloitte issues ITN 'going concern' warning
Deloitte questioning whether broadcast giant can continue as a going concern after its pensions deficit grew to £39.9m from £17.1m the year before
Deloitte has questioned whether terrestrial broadcaster ITN can continue
trading for the next year after its accounts showed a £39.9m pension deficit.
This represented an increase of £17.1m from 2007, prompting auditor Deloitte
to issue an ’emphasis of matter paragraph in its audit opinion, questioning
whether the broadcaster can continue as a going concern,
Daily Telegraph reported.
In accounts filed at Companies House, ITN’s directors said there was
‘uncertainty over the future funding requirements of the ITN pension scheme.’
The group also said the deficit could be ‘significantly higher’ this year
following an upcoming triennial valuation.