PracticeAuditAccountants may be fined over Semple collapse

Accountants may be fined over Semple collapse

Discplinary hearing begins

Scottish accountants and Big Four firm Deloitte may face fines over their
audit work at engineering group Semple Cochrane in 2000 after a hearing finally
begun at the Joint Disciplinary Scheme.

The JDS handles ‘public interest’’ disciplinary cases on behalf of the
English and Scottish chartered accountancy institutes.

In 2000 the engineer was forced to write down net assets by about £10m mainly
because of past profit overstatement.

The proceedings are being held against accountants David Crawford and
Marshall Miller, as well as their former colleague at Semple auditor Deloitte,
John (Ian) Durie.

A complaint has also been laid against Deloitte as a firm.

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