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  "documentTitle": "WSP Global Inc. (WSP)",
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  "authorName": "Spruce Point Capital Management",
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  "notes": "The slide highlights a specific accounting error where intercompany loan cash flows were misclassified, requiring a restatement in the 2022 report for the 2021 comparative figures.",
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      "text": "WSP is capable of misclassifying cash flows in error as evidenced by a recent restatement made at WSP UK Limited in 2021. There was no disclosure of this event in WSP's Annual Report.",
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      "text": "The Company has a number of loan arrangements with fellow Group entities. In error, cashflow transactions associated with these loan arrangements were presented within \"Cash generated from operating activities\" within the Statement of Cash Flows.",
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      "text": "The Company has a number of loan arrangements with fellow Group entities. In error, cashflow transactions associated with these loan arrangements were presented within \"Cash generated from operating activities\" within the Statement of Cash Flows. As a result, the 2021 comparative figures in the Statement of Cash Flows have been restated to present cashflow transactions associated with loans receivable within \"Cash generated from investing activities\" and cashflow transactions associated with loans payable within \"Cash generated from financing activities\" in line with the requirements of IAS 7 Statement of Cash Flows.",
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      "text": "\"The Company has a number of loan arrangements with fellow Group entities. In error, cashflow transactions associated with these loan arrangements were presented within \"Cash generated from operating activities\" within the Statement of Cash Flows. As a result, the 2021 comparative figures in the Statement of Cash Flows have been restated to present cashflow transactions associated with loans receivable within \"Cash generated from investing activities\" and cashflow transactions associated with loans payable within \"Cash generated from financing activities\" in line with the requirements of IAS 7 Statement of Cash Flows.\" — WSP UK Limited Error Disclosure",
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      "text": "Source: Companies House UK",
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      "text": "Evidence of Cash Flow Errors Requiring Restatement",
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