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FCA re-files accounts after complaint about clarity

The FCA has re-filed its annual accounts after a complaint over their legibility, The Times reports.

After a bricklayer, Clive May, based in Mold in Flintshire, raised concerns about how clear the accounts were to Companies House, the corporate registrar service invited the regulator to submit an update version of its accounts to March 31 2018.

According to The Times, May took issue with “hastily penned in corrections by persons unknown”, including handwritten notes and edits on capital expenditure and lease arrangements, as well as an October update to board members’ outside commercial relationships that added two new paragraphs of information – claiming that these lowered his confidence in how accurate the filings were.

The Times quotes an FCA spokesman confirming the regulator had “agreed to submit another version” but had not contravened any rules around filing.

After discussions with Companies House, a printed version of the accounts was uploaded last week, The Times understands.

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Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

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