The former financial director of air conditioning installer Worthington Nicholls has been banned from practicing as a chartered accountant for six years after he was found by the AADB to have produced materially false and misleading financial statements.
Timothy Hunt, a member of the ICAEW, presented misleading interim accounts in June 2007 by including £770,000 of turnover which he had no evidence of.
He also failed to stop misleading information being sent out to the market ahead of their share placement in May 2007.
The tribunal argued that Hunt was in a “unique position” as the sole qualified accountant on the board and should have realised the company's financial position.
Tom Martin, executive counsel at AADB, told the Financial Times:
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