Staffline shares suspended after accounting allegations

(Sharecast News) - Shares recruiter Staffline were suspended after the close of trading overnight after the company said it was delaying its annual results. On Wednesday morning's the company said it was delaying its accounts but did not give a reason, sending its shares plunging.After 1800 GMT the company confirmed that concerns were "brought to the attention of the board relating to invoicing and payroll practices within the Recruitment division"."Given the nature of the allegations, the preliminary results will not be published until the matters have been fully investigated."Directors noted that these practices have been the subject of prior audits."However, if the allegations are substantiated this could have a material impact on the group and its profitability and until further investigation has been undertaken the board cannot assess the potential materiality."