Former Cattles FDs banned at disciplinaries

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The former finance director of troubled Yorkshire financial services group Cattles and the finance director of its subsidiary Welcome Financial Services have been disciplined at separate hearings in London.

At a Financial Reporting Council (FRC) disciplinary hearing today, Welcome FD Peter Miller was excluded from the ICAEW for six years. This followed the outcome of a hearing yesterday concerning Cattles FD James Corr who was excluded from ICAS for eight years.

An FRC spokesperson confirmed the bans and said there were “no other penalties or costs” imposed on the men for their roles at the companies where serious accounting errors were discovered.

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The Banning of Former Cattle FDs

I think the ban is ok but the unfortune part is that these men will be able to practice somewhere else even with the UK becuase the ban is from FRA-regulated activities. Its like Auditors have been culprits in a lot of financial scandles. I say so because most of big companies that have been wound Auditors did there audit but did not find anything that could endanger the continuity of the company.

Its like for auditors its just business i.e. money they are looking for and not ensuring that the shareholders funds are protected.

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