RegulationAccounting StandardsDurgan fallout sparks internal controls review

Durgan fallout sparks internal controls review

Ian Morris leads a review of the ICAEW's internal controls to make sure that the fiasco surrounding Graham Durgan is never repeated

A review of the ICAEW’s internal controls is being led by president Ian
Morris, in a bid to make sure that the fiasco surrounding a contract awarded to
a training business owned by former deputy president Graham Durgan is never
repeated.

Morris is looking at the arrangements for which preferred supplier contracts
are awarded, following the controversial award of the status to Emile Woolf
International, a training company in which Durgan has a majority stake.

Although no impropriety has been suggested, Durgan took the unprecedented
step of withdrawing his candidacy for president.

Former president Paul Druckman said he could not see the situation ‘ever
arising again’, but said a review needed to be undertaken ‘to make sure’.

Although council members were split on Durgan’s decision, they voted narrowly
against an attempt to dissuade him from resigning.

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