London 2012 to Reveal Final Financial Reports and Accounts after the Games

London 2012 organisers have decided it’s next financial report and accounts will have to wait to be published until after the Games.

The organisation disclosed in its report for the year ended 31 March, 2011, published last week, that it had extended its accounting reference date to 30 September, 2012.

This means that “the majority of the remaining lifetime revenue and expenditure will be captured in one accounting reference period”.

It also means that staff will not be sidetracked by the rigours of compiling a detailed account of their year’s operations in the final weeks before the 2012 Olympic and Paralympic Games actually take place.

On the other hand a detailed picture of London 2012’s business operations in the most critical phase of its corporate lifecycle will not be produced until many staff members have left. Under the timetable currently envisaged, information for the 18-month period to 30 September, 2012 will be audited in the last two months of that year, with accounts published in 2013.

Subsequent to that, there will also be a final set of accounts covering the six months to 31 March, 2013. Once this exploit has completed its functions, London 2012 will embark on the formal process of dissolving the company.