BusinessCompany NewsWorthington Nicholls FD to face AADB tribunal

Worthington Nicholls FD to face AADB tribunal

A formal complaint against ICAEW member Timothy Hunt has been passed to tribunal arm of AADB

THE PROFESSION’S watchdog has filed a formal complaint to its disciplinary arm against listed air conditioning installer Worthington Nicholls’ finance director Timothy Hunt.

The Accountancy and Actuarial Discipline Board (AADB) announced an investigation into the conduct of Hunt’s preparation and approval of interim financial statements, for the six months ended 31 March 2007.

The executive counsel filed the complaint which alleges ICAEW member Hunt’s conduct breached the fundamental principles of integrity and professional competence.

An investigation was launched in October 2008. Hunt was FD of Worthington Nicholls from 10 January 2007 to 19 September 2007.

The AADB lists breaches occurred in: his preparation of an interim financial statement; his conduct at an extraordinary general meeting, as well as a board meeting; a letter to shareholders; and a news announcement.

An independent disciplinary tribunal will be appointed to hear the formal complaint and an investigation into auditor Haines Watts’ conduct is currently still on-going.

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