AN INVESTIGATION into the conduct of a member of ICAS in connection with the financial statements of the Equitable Life Assurance Society in 1999 has been closed by the FRC’s disciplinary board.
In a statement issued by the FRC, the AADB said that, following the conclusion of the investigation, it decided there is “no realistic prospect that a tribunal would make an adverse finding against the accountant concerned”.
Consequently, no further action will be taken and the case will be closed.
The investigation focused on the provision by the member of information for use by the Financial Reporting Review Panel.
In August, the FRC closed an investigation into the conduct of an Ernst & Young actuary in connection with the audits of Equitable Life.
An Aberdeenshire director has been disqualified for failing to ensure her restaurant company kept adequate books and records
The director of a company set up to market a fuel-saving device has been disqualified for failing to maintain and preserve proper records
Assistant Accountant handed an 11-year Bankruptcy Restrictions Order for misappropriating funds
Father and Son directors disqualified for five years and three and a half years for running up large Crown debts whilst trading insolvently