Clough had already pleaded guilty to fraud while Cushnie was convicted of ‘conspiracy to defraud wealthy individuals’ last month.
Following an investigation by the Accountant’s Joint Disciplinary Scheme’s accountancy firm Nunn Hayward was severely reprimanded and ordered to pay £125,000 for failing to behave with integrity over its audit in the late-nineties of the insolvent finance company.
Versailles went into receivership in February 2000 after it collapsed with debts of £100m.
The company floated on the Alternative Investment Market in 1995 and had grown to market value of £630m when its shares were suspended in December 1999 after accounting irregularities were discovered.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars
Investment in people, tech and businesses impacts on EY's profit per partner figure
RSM has appointed Kevin Edwards as a tax partner in its Nottingham office