News June 2006 Langbar International Limited

Langbar International Limited

23 June 2006


The AIDB has decided to investigate the conduct of Mr Geoffrey Stuart Pearson (known as Stuart Pearson), a member of the Institute of Chartered Accountants in England and Wales (the ICAEW). The scope of the investigation will be Stuart Pearson’s conduct in relation to the establishment, listing and affairs of Langbar International Limited.

This decision was taken following consultation with the ICAEW.

The AIDB investigation will be conducted independently. It will also be conducted in a manner which is fair to those involved in the investigation.

Notes to Editors

  1. The Financial Reporting Council (the FRC) is a unified, independent regulator. Its aim is to promote confidence in corporate reporting and governance. The FRC has six operating bodies: the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy Investigation and Discipline Board.

  2. The Accountancy Investigation and Discipline Board ("AIDB") is the independent, investigative and disciplinary body for accountants in the UK. The AIDB is responsible for operating and administering an independent disciplinary scheme (" the Scheme") covering members of the following accountants’ professional bodies:- the Association of Chartered Certified Accountants, the Chartered Institute of Management Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Chartered Accountants in Ireland and the Institute of Chartered Accountants in England and Wales.

  3. The focus of the AIDB is on cases which raise important issues affecting the public interest; other disciplinary cases will continue to be dealt with by the individual accountancy body of the member concerned.

  4. Disciplinary Complaints filed following an AIDB investigation are heard by an independent Tribunal which will normally sit in public.  If the Tribunal upholds a Complaint, there is a wide range of sanctions which it can impose including an unlimited fine, exclusion from membership of a professional body and withdrawal of practising certificates or licenses.

Document created under a former FRC operating body.