Tyco said that such a readjustment of past figures will have no material adverse effect on its current balance sheet, its operating results or cashflows for the rest of this year.
Hoever, it is assumed the restatements will put the years that Dennis Kozlowski held the position of chief executive in a much less flattering light.
There is still the possibility that Tyco will have to make further restatements once the SEC and the group have agreed on how to handle the $630m of charges taken into account for the quarter ended 31 March 2003.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016