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ICAS takes disciplinary action against Graham Tough, partner at Martin Aitken & Co

10 Dec 08

Graham Cameron Tough, a partner in the firm of Martin Aitken & Co in Glasgow, has been severely reprimanded and ordered to pay a penalty of £35,000 and costs of £40,000 by the Discipline Tribunal of the Institute of Chartered Accountants of Scotland

Mr Tough was found guilty of professional misconduct in that he failed in his responsibilities as a licensed insolvency practitioner in his handling of five separate appointments as a trustee under trust deeds for creditors. In particular he entered into improper financial arrangements related to referrals from a firm of debt counsellors.

Kenneth Chrystie, Discipline Tribunal Chairman, said: “The Tribunal was not looking at one or two isolated acts, but at a series of acts arising from arrangements and documentation of which he was aware or should have been aware, for which he and he alone was ultimately responsible and from which he personally benefited.”

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Peter Drewell

Friday December 19, 2008, 08:47

Surely Mr Tough is lucky that he is still a member of ICAS. Why has this not happened? How serious does the level of misconduct have to be to warrant dismissal? Surely this casts doubt over the quality of that which should be associated with holding membership?


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Graham Tough | Martin Aitken | ICAS | Discipline Tribunal

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