Slater & Gordon confirms accounting errors

Law firm, Slater & Gordon is under investigation by the Australian Securities and Investments Commission (ASIC) over errors in its reporting of UK cashflows.

Slater & Gordon, which recently acquired the professional services arm of Quindell for £637m, said it had started its own investigation into consolidation errors it had found in financial reporting for 2012, 2013 and 2014 for its UK business and was cooperating with the ASIC inquiry.

The law firm said its net operating cashflows for those periods were unaffected.

Shares in Slater & Gordon fell by 25%.