Investigation into accounts at Birstall IT firm
A BIRSTALL IT firm is being investigated for ‘accounting mis-statements’ which could cost it £14m.
A finance manager at Servo Limited in Oakwell Way has been suspended as part of the investigation.
Phoenix IT, which owns Servo, has released a statement, saying certain control processes within the finance function at Servo’s Birstall site had been ‘repeatedly and deliberately circumvented’.
Professional services firm PricewaterhouseCoopers and law firm Nabarro have been drafted in to carry out independent forensic investigations, and an operational and business review is under way.
Phoenix has informed its banks and says it will keep them abreast of developments.
Phoenix IT bought Birstall-based ICM Computer Group in 2007, and four years later merged it with Servo, which hosts companies’ IT systems, to create a single source IT services provider.
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Tuesday 18 June 2013
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