Burnley have been placed under an immediate transfer embargo by the English Football League (EFL) following a delay in the submission of their accounts, the Championship leaders said on Sunday.
Burnley, managed by former Manchester City defender Vincent Kompany, said the delay was caused by a change in their auditors in November.
"We can confirm that we have provided draft accounts and financial information to the EFL's Club Financial Reporting Unit and we continue to have regular dialogue with the unit to ensure we remain as open and as transparent and answer any questions the league may have," Burnley said in a statement.
"We believe the EFL will have no issue with the detail of our accounts other than their late submission and fully understand and support their position and efforts to sanction any club who fails to comply with any of their regulations.
"Both the club and our new auditors are confident this can be resolved swiftly and we hope our submission will be made next month at which point the embargo will be lifted."
Burnley, who are top of the Championship standings with 80 points from 36 matches, look poised to earn promotion back to the Premier League just one year after being relegated.
The second-tier side have also reached the quarterfinals of the FA Cup this season, where they are due to face Manchester City.