US operator CenturyLink announced that publication of its annual report will [be] delayed after it discovered accounting problems. In a SEC filing, the company said it discovered internal control weaknesses in recording revenue and measuring asset fair values, related to its takeover of Level 3 Communications.
CenturyLink said it is working with its auditor and conducting an additional review and testing of those processes before finalising its results for 2018. Despite the delay in the annual report, the company said it does not expect any material changes to the financial results disclosed in February. The report should be filed within the grace period allowed by the SEC.
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