Wood Group to restate accounts after information withheld from auditors

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The story "Wood Group to restate accounts after information withheld from auditors" was covered 3 days ago by Financial Times, a news publisher based in United States.

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Financial Times 3d ago

Wood Group to restate accounts after information withheld from auditors - Financial Times

Quick Summary:

It added: “The cultural failings appear to have led to instances of information being inappropriately withheld from, and unreliable information being provided to, Wood’s auditors.

Shares in Wood have fallen roughly 70 per cent over the past year as it struggles with a heavy debt load and burns cash.

The company said there had been “significant” changes within Wood since the period covered by the review, and it was “committed to implementing a detailed remediation plan”.