Ascendant to file financial results late
Created: Oct 01, 2015 08:00 AM
Late filing: Ascendant Group, parent of Belco, has been given permission to submit financial results a month later than scheduled
The parent firm of power company Belco is to file its interim financial results a month late.
Ascendant Group asked the Bermuda Stock Exchange (BSX) for extra time due to a change in the way it reports its accounts from the Canadian generally accepted accounting principles (GAAP) to the International Financing Report Standards (IFRS).
Now, instead of filing its unaudited interim financial results for 2015 from September 30 to October 31.
The BSX accepted Ascendant’s plea that the change in reporting standards was “impacting timing of release of its six month interim results”.
