RegulationAccounting StandardsUHY partner Andronikou reprimanded by ICAEW

UHY partner Andronikou reprimanded by ICAEW

UHY partner Andrew Andronikou agrees £500 fine from the ICAEW, for omitting information in a SIP 16 report in 2009

UHY HACKER YOUNG’S Andrew Andronikou is being fined by the ICAEW for failing to meet insolvency reporting requirements.

Andronikou agreed an ICAEW investigation committee consent order to be reprimanded and fined £500. He was also asked to pay £2,167 of costs.

Andronikou is well-known for his role as joint administrator of Portsmouth Football Club.

The complaint, unrelated to his role at Portsmouth, refers to a SIP 16 report that administrators must file after a pre-packaged administration. In a pre-pack the sale is arranged prior to the formal insolvency process.

Following the pre-pack sale the insolvency practitioner must produce a SIP 16 report, distributed to all creditors, which contains further details including why this type of administration was chosen.

Andronikou was reprimanded for a SIP 16 report he submitted in October 2009, which failed to include sufficient information regarding; an independent valuation of a business and its assets; his involvement prior to his appointment; and why a pre-pack was undertaken.

 

 

Related Articles

Treasury Select Committee report released on Making Tax Digital

Accounting Standards Treasury Select Committee report released on Making Tax Digital

11m Stephanie Wix, Writer
New Year Honours of 2017

Accounting Standards New Year Honours of 2017

11m Stephanie Wix, Writer
Record fine for Deloitte and audit partner over Aero misconduct

Accounting Standards Record fine for Deloitte and audit partner over Aero misconduct

1y Stephanie Wix, Writer
'Clear' tax avoidance guidance for advisers issued by institutes

Accounting Standards 'Clear' tax avoidance guidance for advisers issued by institutes

1y Stephanie Wix, Writer
Eight landmarks in the history of accountancy

Accounting Standards Eight landmarks in the history of accountancy

1y Acccountancy Age
Taking Stock: PwC outdoes ICAEW in the nibble stakes (steaks)

Accounting Standards Taking Stock: PwC outdoes ICAEW in the nibble stakes (steaks)

2y Taking Stock
ICAEW president: We must adapt to add to our heritage

Accounting Standards ICAEW president: We must adapt to add to our heritage

2y Richard Crump, Writer
ICAEW targets state of audit in consultation paper

Accounting Standards ICAEW targets state of audit in consultation paper

2y Fraser Simpson, Reporter