AADB investigates ICAS member in relation to Equitable Life
1 Feb 10
The Accountancy and Actuarial Discipline Board has launched an investigation under its disciplinary scheme for the accountancy profession into the conduct of an ICAS member in connection with matters related to the financial statements of Equitable Life Assurance Society in 1999
This decision was taken following consultation with ICAS.
The scope of the investigation is as follows: “The provision by a member of information for use by the Financial Review Reporting Panel relating to the financial statements of Equitable Life Assurance Society in 1999.”
In a separate matter, the AADB’s executive counsel has concluded that its investigation into the conduct of BDO Stoy Hayward as auditors to XL Leisure Group did not identify any acts of misconduct (as defined by the AADB Scheme for the accountancy profession). Accordingly, no further action will be taken.
A summary report, prepared by the executive counsel, is available on the AADB website at www.frc.org.uk/aadb