TITLE

Hammonds delays profit distribution as PwC extends financial audit to July

AUTHOR(S)
Harris, Joanne
PUB. DATE
June 2005
SOURCE
Lawyer;6/6/2005, Vol. 19 Issue 22, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of Hammonds' new auditors PricewaterhouseCoopers LLP (PwC) to carry out an extensive examination of the firm's finances. Due to the audit, the firm will not finalise its figures until July 2005 which is likely to cause a delay to profit distribution. PwC replaced the firm's previous auditors Fletcher Greenwood & Co. in February 2005. While several of its rivals celebrate impressive increases, Hammonds is waiting for an expected 25 per cent slump to around 200,000 pounds for average profit per equity partner. Turnover is likely to remain static at last year's 136 million pounds.
ACCESSION #
17334885

 

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