Practitioner rebuked over ‘improper’ advice

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The ICAEW’s Disciplinary Orders and Regulatory Decisions contained thin pickings for January 2012, with the majority of cases concerning issues such as practicing without certificates or withdrawing audit licences.

However, perhaps the most topical decision involved insolvency practitioner Eric Stonham who the institute severely reprimanded and fined for wrongly advising a client to recover his pre-appointment fees.

In order to recover payment in respect of acting as administrator of R-Bar and Restaurant, Stonham improperly advised Mrs King and her daughter (both directors and employees) to pay themselves a bonus to pay those fees.

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Robert Lovell
Managing Editor
AccountingWEB.co.uk
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