UK/US - Watson Wyatt has reassured its client base that "billing irregularities" in its US operations will have no implications for Britain.
The firm’s US division – Watson Wyatt & Company Holdings – has had to delay issuing its fourth quarter and 2003 year-end financial statements after it emerged that five of its clients were hit by “billing irregularities” totalling $2m (£1.3m).
Watson Wyatt & Company Holdings said its lawyers and independent accountants were investigating the irregularities so that it could take “appropriate remedial action”.
The investigation is expected to be finished before the end of next month.
But a spokesman stressed that events in the US would have “no bearing” on its UK clients.
He said: “The postponement of the reporting of Watson Wyatt & Company Holdings’ fourth quarter and 2003 fiscal year results due to the discovery of certain billing irregularities has absolutely no impact on Watson Wyatt.”
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