Ives attended the meeting having missed two previous tribunals scheduled for late last year. The attention of the Accountant’s Joint Disciplinary Scheme will now turn to the bigger investigation into whether Big Four firm, Deloitte, was negligent while acting as an auditor of Capital Corporation.
Ives, an audit partner at Deloitte faced the tribunal for the circumstances in which he acquired a luxury Range Rover from Capital Corporation while involved in the company’s audit. He paid Capital Corporation with a credit note for Deloitte work, valued at around £35,000.
Chris Dickson, executive counsel at the JDS, referred Ives and business associate Dineshkumar Patel, a north London accountant, to a disciplinary tribunal in June last year.
A final decision from the tribunal is not expected for several weeks, but if found guilty both men face the prospect of an unlimited fine and expulsion from the profession. The JDS is expected to decide whether it will lay complaints against Deloitte in the next four weeks, after studying reams of evidence on the audit work that the firm carried out. Grant Thornton was commissioned by the scheme to look into Deloitte’s work.
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