The firm lambasted the disciplinary body and its independent panel this week, after a full judgment of the Mayflower case – containing criticisms of Kingston Smith partner Emile Woolf – was published.

‘We have for some months had serious reservations as to the manner in which the investigative and disciplinary processes have been followed and applied and we believe that the AIDB will need to remedy the defects in its procedures that have been highlighted by the Tribunal,’ a Kingston Smith spokesman said.

Woolf was used by the AIDB as an expert witness during the Mayflower tribunal, in which the AIDB brought complaints against FD David Donnelly and the auditors, PricewaterhouseCoopers.

But the watchdog suffered a humiliating defeat in its first public tribunal, after dropping some charges and later having the other complaints dismissed by an independent panel.

The panel’s criticism of Woolf – for making erroneous verbal claims, and not answering questions – was included in a 247-page report which contained the panel’s findings.

The AIDB’s executive counsel, Cameron Scott, was also criticised for using Woolf as an expert witness.

Kinston Smith defended Woolf, describing him as ‘a highly experienced accountant who has compiled over 300 reports in his long career’.

A spokesman added: ‘We invited the tribunal to correct what we regard to be factually incorrect and prejudicial findings… the tribunal’s decision did not focus on the appropriate and key issues and criticised Mr Woolf in relation to the scope of the investigation, a matter that was wholly outside of his control.’