Farepak boss accused of accounting errors
The Financial Reporting Council (FRC) has filed a disciplinary complaint against William Rollason, a former director of Farepak and parent company European Home Retail (EHR).
Rollason is accused of failing to act in accordance with the ICAEW’s ethical code and allowing his conduct to fall short of the standards expected of members during his stewardship of Farepak.
According to the FRC he misled fellow directors on the financial position of EHR; its ability to support Farepak as its liabilities fell due; and signed off on misleading financial statements.
In more detail, the formal complaint alleges that Rollason: