find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Slaters to face ASIC

Slaters to face ASIC

Slater and Gordon

Slater and Gordon has admitted to errors in the financial accounts of its UK business as it prepares to face questioning by ASIC concerning the firm’s long-time auditor.

Today (29 June), Slaters announced to the market that it had found two consolidation errors in the reporting of its cash flows in the UK that trace as far back as 2012. The errors concern the method used to report receipts from customers and payments to suppliers and employees.

However, the firm claims the errors have no impact on net cash results for the UK business.

The ASX announcement comes three days after Slaters was notified by its auditor, Pitcher Partners (PP), that ASIC intends to “raise some queries” with the firm about PP’s audit process.

Slaters has engaged Ernst & Young to independently assess its responses to ASIC’s queries.

On 24 June, an Australian Financial Review article said ASIC was looking into whether Pitcher Partners had the resources to conduct an extensive and complex international audit.

Slaters dismissed the claims as “incorrect and misleading” at the time.

Meanwhile, London firm Quindell, which sold its Professional Services Division to Slaters for $1.2 billion earlier this year, is currently under investigation by Britain’s financial watchdog over its accounting practices.

The inquiry by the Financial Conduct Authority concerns public statements made by Quindell Plc in 2013 and 2014.

Slaters has claimed it is not exposed to material financial risk as a result of the inquiry into Quindell, because it did not acquire Quindell Plc or the common stock of Quindell Plc.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Slaters to face ASIC
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...