UK ACCOUNTING WATCHDOG BANS 3 BOSSES OVER ‘MOST SERIOUS’ MISCONDUCT

On 10th August, KYC 360 reported that executives at a firm that supplied engines to London Fire Brigade have been banned for committing some of the ‘most serious’ misconduct crimes brought before the Financial Reporting Council and a tribunal hearing.  The allegations included dishonesty and failing to act in accordance with core standards of integrity and objectivity regarding dealing with company funds.  The charges also related to the preparation of financial statements, and the recognition of fictitious assets and revenue.  Former CEO, John Shannon, ex-CFO Raymond Flynn and former financial controller Matthew Boyle – were banned respectively for 16, 14 and 12 years; and in addition, fines of £250,000, £150,000 and £100,000 were respectively imposed.

https://kyc360.com/news/uk-accounting-watchdog-bans-three-bosses-over-most-serious-misconduct/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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