The Accountancy Investigation and Discipline Board (AIDB) is filing a disciplinary complaint against PricewaterhouseCoopers, following an investigation into the firm's conduct as former auditor of The Mayflower Corporation and its subsidiary, Transbus International. A complaint is also being filed against Mayflower's former finance director, David Donnelly.
The complaint against PwC relates to their audit of the 2002 Transbus accounts - particularly amounts held on behalf of a bank under an invoice discounting facility
- and their audit of the 2002 Mayflower accounts, especially disclosures relating to the company's ability to continue as a going concern beyond 31 December 2003.
Donnelly is facing a disciplinary complaint over disclosures in the 2002 Mayflower accounts relating to the company...