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

This, it said, 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 distracted 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.

The flipside, of course, is that 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 it has completed its functions, London 2012 will embark on the formal process of dissolving the company.

Contact the writer of this story at [email protected].


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