BusinessCompany NewsAuditors called in at Royal Academy

Auditors called in at Royal Academy

Special auditors have been called into investigate alleged financial irregularities at one of the UK's most venerated art galleries.

Link: Royal Academy bursar jailed for five years

Two weeks ago Brendan Neiland, head of the RA, resigned after the discovery of an unauthorised bank account and a pattern of transactions involving £80,000 that were not properly documented, The Independent reported.

David Gordon, the former chief executive of The Economist and former secretary of the Royal Academy, who left after clashing with its president, Philip King said the RA was suffering from ‘a chronic case of poor governance and will therefore go from crisis to crisis until there is a fundamental reform and modernisation of its constitution’.

In 1997, Trevor Clark, the RA’s bursar, was jailed for five years after stealing almost £400,000.

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