Rok FD suspended amid ‘failing’ financial controls

Rok, the repair and maintenance group, has suspended its finance director
following a report that the company’s financial controls were “failing”.

In a statement yesterday Rok said a review of its plumbing, heating and
electrical (PHE) business by BDO which concluded that there had been “serious
failings in the financial controls” in the division.

Rok also announced that FD Ashley Martin had been suspended and that
short-term replacement had been brought in.

“The Board has decided that the Company must have new financial leadership.
Ashley Martin has therefore been suspended with immediate effect and his day to
day duties passed to David Miller, a specialist interim CFO, who was Chief
Financial Officer of Amey PLC between 1998 and 2002,” a Rok statment said.

The company said that as a result of problem in PHE it expected group results
to be below market expectations.

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