The error affected the group’s operating profits from the last three years, although cash balances remained unaffected.
Errors totalling £4.2m since 1998 were uncovered by a Deloitte & Touche investigation in October and shortly afterwards £1bn was wiped off Future’s stock market value.
According to the report, Future may now seek compensation from PwC for the years 1998 and 1999, although the Big Five firm is expected to continue auditing the accounts.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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