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Regulator Opens Investigation Into Redcentric Accounting Issues

[ 20 Mar 2017 08:27 ]

LONDON (Alliance News) - IT managed services firm Redcentric said Monday the UK's Financial Conduct Authority has opened an investigation into its previously disclosed accounting misstatement.

In November, Redcentric disclosed historic overstatement of net assets and profit, which it subsequently found amounted to a GBP20.8 million hole in its finances and led to the departure of its then chief financial officer.

Redcentric said it will "co-operate fully" with the FCA and other relevant authorities.

Shares in Redcentric were down 1.7% at 86.00 pence Monday following the announcement.

By Adam Clark; adamclark@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.


Regulator Opens Investigation Into Redcentric Accounting Issues - Alliance News

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