The company now admits that it has overlooked £3.8m in ‘previously unidentified’ promotional costs, an increase of £500,000 from figures released early last month.
The company admitted that accounting irregularities had not been investigated with appropriate vigour or speed and said that Flockhart was guilty of ‘a spectacular lack of judgement’.
Further board or staff departures could be on the cards depending on the results of a thorough investigation by Deloitte & Touche.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements