The Financial Reporting Council is launching a fresh probe into the “preparation and approval” of Mitie’s financial statements for the year ending March 31, 2016.
Thelatest probe by the UK audit watchdog is likely look at former directors of the company
In a statement the oursourcing company said: “We can confirm that this investigation is not into Mitie itself and that Mitie is not the subject of any new FRC investigation.
“We can further confirm that the investigation does not relate to any current directors of Mitie, any former non-executive directors of Mitie or Sandip Mahajan, who recently stepped down from his role as Group CFO.
The watchdog is already investigating the auditing of Mitie’s accounts by former auditor Deloitte. The latest probe does not relate to Deloitte staff.
The Financial Conduct Authority is also investigating Mitie over the timeliness of a profit warning.
Chief executive Phil Bentley joined the company almost a year ago, replacing long-term boss Ruby McGregor-Smith, at a time when the firm had issued three profit warnings in four months.
Bentley has overhauled the management team and is press ahead with a turn around plan.
from Construction Enquirer http://www.constructionenquirer.com/2017/11/20/accounting-watchdog-launches-probe-into-mities-books/
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