Auditors to be investigated following AIM-listed company’s internal review of accounting irregularities
In September 2011 we reported on the “serious accounting irregularities” that led to Healthcare Locums plc’s shares being suspended from AIM for eight months. Yesterday the Accountancy and Actuarial Discipline Board (AADB) launched an investigation into BDO’s role in the:
“• preparation, approval and audit of the financial statements of Healthcare Locums plc and its subsidiaries for the years ended 31st December 2008 and 2009;
• preparation and approval of the interim financial statements of Healthcare Locums plc and subsidiaries for the six months ended 30th June 2010;
• operation by Healthcare Locums plc and its subsidiaries of the discounting facility with Barclays Bank plc during 2010; and
• compliance by Healthcare Locums plc and subsidiaries with the National Health Service terms and conditions as set out in the Framework Agreements since 1 January 2008.”
The AADB is the investigative and disciplinary body for accountants and actuaries in the UK and it focuses on cases which raise important issues affecting the public interest.
See also: BDO becomes the first sponsor to be publicly censured by the Financial Services Authority.
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