Questions raised over Guardian iT accounts

Accounting discrepancies at much-troubled Guardian iT have prompted chairman Richard Raworth to resign, although he stressed he...

Accounting discrepancies at much-troubled Guardian iT have prompted chairman Richard Raworth to resign, although he stressed he was not aware "of any issues that would have given rise" to the problem.

The discrepancies of up to £4m were uncovered for the year ending 31 December, 2001 and for earlier periods.

The company warned that it has revised profits for the second time in two months, from between £13m and £14m in December's forecast to £11.5m to £12.5m.Guardian iT will also take exceptional operating charges of up to £19m.

In addition, it revealed there had been preliminary discussions which could lead to an offer for the company.

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