RegulationCorporate GovernanceAIDB confirms dates for Mayflower test case

AIDB confirms dates for Mayflower test case

AIDB hearings against PricewatershouseCoopers and ex-FD of collapsed bus manufacturer Mayflower will take place on 25 September

The new disciplinary board has confirmed the dates for a test case against
Mayflower’s former finance director and auditors PricewaterhouseCoopers.

The AIDB hearings against PricewatershouseCoopers and David Thomas Donnelly,
ex-FD of collapsed bus manufacturer Mayflower, will take place on 25 September.
Hearings against Ian Jon Shelton, the former financial controller of Transbus, a
Mayflower subsidiary, will be heard separately on 11 September.

AIDB executive counsel has decided not to proceed with a complaint against
Donnelly relating to disclosures made in the 2002 Mayflower accounts in respect
of the company’s ability to continue as a going concern.

Other complaints against Donnelly, PricewaterhouseCoopers and Shelton will be
heard by the tribunal.

Accountancy Age revealed exclusively last
February
that the inaugural tribunals would take place this September.

The investigation began in July 2004 when accounting irregularities were
discovered in Transbus’s accounts during March of that year.

The hearings, which are open to the public, will take place at of the
International Dispute Resolution Centre in London. The AIDB can impose
sanctions, an unlimited fine, exclusion from membership of a professional body
and withdraw practising certificates or licenses, if the tribunal upholds the
complaints.

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