BOTH BDO AND RSM TENON have been severely reprimanded by the ICAEW in separate incidents, under the institute’s investigation committee process.
BDO agreed to a consent order after it was censured by the FSA for failing to liaise with the UK Listing Authority while acting as a sponsor for a listed company prior to its takeover of another business. The firm was severely reprimanded, fined £15,000, and ordered to pay costs of £4,963.
RSM Tenon agreed to a consent order where it had issued an unqualified audit report for a company year ending 30 September 2008, which was not conducted in accordance with international standards on auditing.
The firm had failed to obtain sufficient appropriate evidence on which to base its audit opinion in respect of going concern, loans and amounts owed by group undertakings, Turkish investment properties, and a loan to another party. RSM Tenon was severely reprimanded, fined £15,000, and ordered to pay costs of £11,011.
Rowan Williams will be responsible for growing the firm’s presence in the Gatwick Diamond and across the south east
Kevin Humphreys joins the insolvency and restructuring firm from the National Crime Agency (NCA) Economic Crime Command
Ann Pomfret joins the Manchester office from BDO
Mark McMullen joins the private client services team from Smith & Williamson