Sadly, 'accounting irregularities' seem to be an increasingly common theme these days in the business world including in the construction sector.
One thing the SIG story reveals is the need for businesses to have a robust whistle blowing policy.
| less than a minute read
SIG & 'accounting irregularities'
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Building supplies company SIG has sacked "a number" of members of staff over accounting irregularities which were revealed by a whistleblower earlier this year. The company revealed on February 1 that an investigation by KPMG and Deloitte found it had overstated its 2016 profits by up to £3.7m because rebates from suppliers were booked incorrectly, “in some cases intentionally”. It had also overstated profits by £400,000 in 2015 and by £2.5m in the first half of 2017.
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