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back to article Phoenix IT Group fesses up to 'accounting irregularities'

Phoenix IT Group has suspended a business manager amid a probe into accounting irregularities that the firm reckons will result in £14m being wiped from net assets. The listed IT services group revealed in a statement to the London Stock Exchange this morning that it has named PwC and Nabarro LLP to "carry out independent …

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Headmaster

Oh?

"PwC and commercial law firm Nabarro LLP are pouring through the books "

I think you must mean "poring through the books" or do you mean that they are flooding the place with forensic accountants?

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Re: Oh?

Most probably looking for some liquid assets.

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Anonymous Coward

Big Gov overseas IT Outsourcer uses dodgy accounting

And where is there news in this?

Try going through the books of a few List X companies, how do you think they find all the brown envelope cash for the politicians?

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Re: Big Gov overseas IT Outsourcer uses dodgy accounting

The news is the fact that they have admitted to it.

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Anonymous Coward

Re: Big Gov overseas IT Outsourcer uses dodgy accounting

usually do that just before the investigation is officially announced, look at PWC

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Coat

Painful

This will hurt more than expected.....

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