Ann: Voluntary Suspension, page-22

I'm sorry I don't understand how PNC could be required to adjust previously recorded profits (recorded earlier than now required) but that doesn't impact on the current year profits which if they continued to use the old would record a higher profit than the new method.

I understand this is all about timing between the cost they buy the debt & the amount they recover & it's impossible to tell the timing of recoveries but I can't see how this doesn't impact the FY20 profits. PNC recovery period in some cases is quite lengthy.