The number of UK companies forced to delay their financial statements will increase next year because they are unprepared for the introduction of international accounting standards. For the same reason, more audit reports will be published with qualifications.

The UK's Institute of Chartered Accountants has warned that some companies are struggling to make the transition to the new regime, making difficulties inevitable. A survey from PricewaterhouseCoopers, the accountancy group, found that less than a third of European listed companies have transition projects up and running.