Shares of John Wood Group PLC (LSE:WG.) declined 0.9% on Wednesday after the Financial Conduct Authority finalized its investigation into the company’s historical financial reporting.
The regulator’s review examined the period from January 1, 2023, to November 7, 2024. Its conclusions were consistent with those of an independent assessment commissioned by Wood’s board following discussions with the company’s auditor in November 2024.
Wood said it cooperated fully with the FCA throughout the course of the investigation.
According to the regulator’s findings, the company has introduced a remediation and governance improvement plan to address the issues identified in the independent review and has already begun implementing the necessary measures.
The inquiry centered on past financial reporting practices, although the company did not disclose detailed information regarding the specific issues identified.
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