PracticeAuditWickes financial controller cleared of fraud

Wickes financial controller cleared of fraud

Wickes' former group financial controller has been cleared of fraud charges after a long-standing trial involving other former executives.

Link: Wickes finance man was ex-Andersen

A judge at Southwark Crown Court ruled yesterday there was no case against George Battersby, former group financial controller at DIY retailer Wickes.

Battersby was one of five company executives charged with fraudulent trading and false statements in the case which began in January.

The prosecution told the court the five men had infringed accounting rules by securing upfront payments or rebates from suppliers and included them in the audited profits almost immediately, instead of spreading them out over a longer period, as required by the rules.

The prosecution also claimed the scheme was concealed from auditors at Andersen with a ‘two-letter system,’ creating two sets of paperwork.

The fraud, which allegedly took place between January 1994 and June 1996, falsely inflated Wickes’ profits by £22m.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

7h Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

5d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

1w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter