LONDON (Alliance News) - Ten UK companies including WH Smith PLC, Royal Bank of Scotland Group PLC and Rolls-Royce Holdings PLC issued financial statements in the year to March 2014 that failed to meet the Financial Reporting Council's standard for clear reporting, the Financial Times reports Tuesday.
The accountancy watchdog said in a report on Tuesday that it examined the accounts of 271 companies and approached 37% of them for further information and explanation, the FT said. Typically, correspondence from the FRC results in companies agreeing to make some change to their next reports and accounts.
The other companies in the group included Anglo-Eastern Plantations PLC, Anglo Pacific Group PLC, Eland Oil & Gas PLC, Pendragon PLC, GKN PLC, and the Co-Operative Bank.
http://www.ft.com/cms/s/0/275f8cde-52e4-11e4-9221-00144feab7de.html?ftcamp=crm/email/20141014/nbe/UKBusiness/product#axzz3G086dxu8
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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