RegulationAccounting StandardsDurgan awaits past presidents’ contract verdict

Durgan awaits past presidents' contract verdict

The ICAEW nervously awaits a report on whether it can appoint a training company, owned by its future president, to run education classes in Russia and China

A committee of past institute presidents is expected to report this week on
the process that saw Emile Woolf International, of which current deputy
president Graham Durgan is majority shareholder, emerge as the preferred choice
for lucrative contracts to provide training in the two countries.

It is understood that EWI, which could earn up to £200,000 a year from any
deal, has not provided ICAEW training in the past.

The institute has refused to elaborate further on details of the
investigation, including the terms of reference for the probe and which past
presidents are sitting on the committee. Former presidents still serving on the
institute’s council include Paul Druckman, David Illingworth and Peter Wyman.

No impropriety has been suggested by the move – Durgan declared a financial
interest to the council and was not involved in the evaluation process. An ICAEW
statement said that the committee was ‘reviewing the matter and will report back
in the next few days once its enquiries are complete’.

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