AADB announces investigation into ICAEW and ICAS members and member firms in connection with Healthcare Locums plc
28 November 2011
AADB PN 38
The Accountancy and Actuarial Discipline Board (AADB) has launched an investigation under its Accountancy Scheme into the conduct of certain members of the Institute of Chartered Accountants in England and Wales (ICAEW), and of the Institute of Chartered Accountants of Scotland (ICAS), and of BDO LLP as auditors of Healthcare Locums plc. The scope of the investigation relates to 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.
For the avoidance of doubt, the AADB’s investigation will consider the conduct of certain members in relation to historic issues around compliance by Healthcare Locums plc and subsidiaries with the National Health Service terms and conditions as set out in the Framework Agreements up until 30th June 2010.
The AADB’s decision to initiate an investigation was taken following references from the ICAEW and ICAS.
The AADB is independent of the professions it disciplines and operates in the public interest.
Notes to Editors
- The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.
- The Accountancy and Actuarial Discipline Board ("AADB") is the independent, investigative and disciplinary body for accountants and actuaries in the UK. The AADB is responsible for operating and administering independent disciplinary schemes for these professions. The Accountancy Scheme covers 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, the Institute of Chartered Accountants of Scotland and the Institute of Chartered Accountants in England and Wales. The Actuarial Scheme covers Members of the Institute and Faculty of Actuaries (formerly the Institute of Actuaries) and the Faculty of Actuaries (prior to its merger with the Institute of Faculty of Actuaries).
- The focus of the AADB is on cases which raise important issues affecting the public interest; other disciplinary cases will continue to be dealt with by the relevant professional body. The purpose of an investigation is to determine whether there is evidence of misconduct on the part of Members or Member Firms of the professional bodies. An investigation does not always mean that an allegation has been made or that there is evidence of misconduct on the part of the Member or Member Firm involved.
- Disciplinary complaints filed following an AADB 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 covered by one of the Schemes and withdrawal of practising certificates or licenses.
Document created under a former FRC operating body.