I think I am out of my depth and not sure if some transactions are legal or ethical. I work as Group Accountant for a group of companies under the control of Mr Big who is the main shareholder of some of them and director of some of them. He has set up other companies with "stand-in" shareholders or directors, which will eventually be transferred back to himself. He has always moved money between companies and I have had to account for these movements as intercompany "loans". However he has removed me from access to the bank 3 months ago (supposedly by accident - but then not re-instated access) so I don't have access now to all the company bank statements, which is worrying and also preventing me from doing the accounts, properly. I have become aware that some large amounts are being transferred into one of the companies (for which he is not a director) and then the "stand-in" director is having to withdraw the said monies and give to him, e.g. say 3 no withdrawals of £20,000. When I have asked where this is to be coded he has said general expenses, so I asked for the receipts and then he said he was moving the company out of the group. This doesn't feel right to me but I'm not sure if it is actually illegal. Can he backdate the share transfer? I am also a little bit concerned because the company the funds are being paid into and withdrawn from owe money to HMRC (will the director of this company who is a "stand-in" be liable for any of this?)
Sorry if this is more straight forward than it appears but I couldn't find any guidance on CIMA website. I also had to post as annonymous until I know what to do....and how....Am I panicking about nothing or should I be really concerned? I don't want to be involved with a company that is doing anything illegal and am feeling a bit under pressure at the moment....help please....even if its to tell me I'm being stupid.
Cat (obviously not my real name)