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Mitie under accounts scrutiny

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Outsourcing giant Mitie is going to come under scrutiny for its accounting, according to many reports including this one in the Belfast Telegraph. This is in addition to the checks announced by Deloitte in July.

The Financial Reporting Council says the inquiry is about data from 2016 so it’s pretty recent; Mitie, according to the report, understands that this doesn’t relate to any directors past or present (although how accounts can have nothing to do with directors “past or present” escapes us – “present” we accept).

Two things are worth noting about this, or maybe three – the first being the tenuous “everyone always loves bashing an outsourcing company and here they go again” caveat. The second is that an inquiry into accounts declared in September has left the company completely in the clear, and a third is that everyone has the right to be presumed innocent until proven guilty – and there aren’t even any specific allegations to address in the current queries.

The company is certainly aiming for a turnaround and has, for example, adjusted its pension scheme to save money. Intelligent Sourcing will keep on top of the current probe, but wouldn’t be at all surprised if the company were able to address all these queries as it did the previous ones.

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