The first successful prosecution has taken place and it turns out it was the
finance director that did it.
I say bad news, but it is, of course, quite right and proper that someone
should pay for their crimes.
What’s bad about it is that it happens to be a finance director a man of your
profession who has been found to be on the wrong side of the law.
Though the circumstances of the case are no doubt interesting, what strikes
me as relevant is that Neils Jorgen Tobiasen, FD of UK security company CBRN,
could well give investigators the idea that they should be looking for the FD
and probing what he or she knows in any future cases a very unhappy precedent
indeed to be setting.
Of course, there might be some justification for this view. Only recently a
very successful private sector fraud investigator revealed how, when called in
to have a look at the disappearance of cash, he and his colleagues often focused
on the behaviour of people with ready access to the cash it’s a procedural
given to consider the accountants as obvious suspects in a fraud.
But a bribery case overseas? Surely that would be head of sales or someone in
a similar role like that, who would be the guilty party.
Surely the FD, back home booking the numbers, is not the person at the sharp
Now, I can reveal Tobiasen was also MD of the company, which does place him
in that sort of position, but I don’t think that will place other FDs, guilty or
not, beyond suspicion.
The fact is that, with the increasingly strategic role of an FD, why
shouldn’t investigators make him or her one of the usual suspects. There’s a
warning if ever there was one.
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
Accountancy Age Jobs is delighted to announce the launch of a brand new look website for finance and accountancy professionals
The UK gender pay gap will not close until 2069 unless action is taken to tackle it now, according to new research by Deloitte
Three former Tesco executives, including the former finance director of Tesco UK, have been charged with fraud by the Serious Fraud Office in relation to a £263m accounting scandal at the retailer.