RegulationAccounting StandardsChantry Vellacott chief fined by ICAEW

Chantry Vellacott chief fined by ICAEW

Michael Tovey gets severe reprimand for his work with a charity

The head of top 25 firm Chantrey Vellacott DFK has been fined £5,000 and
severely reprimanded by the ICAEW over his actions as treasurer and trustee of a
charity.

Michael Tovey, managing partner at Chantrey Vellacott will also pay costs of
£1,417 over the failure to provide a signed Independent Examiner’s report and
Trustees Annual Report.

The institute’s investigation committee said that in respect to the 2002
accounts of an unnamed charity they ‘were submitted to the ‘Y’ when Mr Tovey
knew or ought to have known and ought to have made clear to ‘Y’ that:

i) ‘Z’ were listed as the independent Examiners and an unqualified
Independent Examiner’s report was attached, when no such report had actually
been signed.

ii) The filed accounts contained an unsigned Trustees Annual Report in breach
of paragraph 28 of the Charities SORP 2000.

A spokesman for Chantrey Vellacott DFK said the firm had no comment to make
at this point.

Related Articles

Demystifying GDPR for accountants

Accounting Standards Demystifying GDPR for accountants

1w Ellen Temperton, Lewis Silkin
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

2m Emma Smith, Managing Editor
The great professional services shake-up

Accounting Standards The great professional services shake-up

3m Fergus Payne, Lewis Silkin
What do clients actually want from an accountant?

Accounting Standards What do clients actually want from an accountant?

4m Emma Smith, Managing Editor
Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

Accounting Standards Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

4m Alison Conley
Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

5m Alia Shoaib, Reporter
The real price of mates' rates in the provision of professional services

Accounting Standards The real price of mates' rates in the provision of professional services

5m DAC Beachcroft
IASB overhauls insurance accounting with issuance of IFRS 17

Accounting Standards IASB overhauls insurance accounting with issuance of IFRS 17

7m Alia Shoaib, Reporter