The UK’s accounting watchdog has imposed significant sanctions against Amanda Nightingale, over her conduct on a number of audits undertaken by BDO LLP between 2015 and 2019.
As part of the settlement with the Financial Reporting Council Nightingale will be excluded from the ICAEW for a recommended period of 20 years. During this time, she will not undertake any accountancy work, and she has been severely reprimanded.
She has also paid a contribution of £10,000 towards executive counsel’s costs of the investigation, having taken into account her financial; circumstances.
It was found that overt a five-year period she created false documents, and falsified existing documents, including audit evidence. She also deceived a number of audit engagement partners and audited entities.
Worryingly, she caused/permitted auditor’s reports to be issued without approval from the audit engagement partners, including inserting electronic copies of the signature of partners without their authorisation. She also filed company accounts at Companies House without proper authorisation.
The FRC issued proposed formal complaints against BDO and two former audit engagement partners on 2 August 2024. The PFC’s alleges misconduct against those parties following the wider investigation into how Nightingale’s misconduct was able to occur and endure over such a long period.
BDO has now implemented significant changes to its systems and controls since the misconduct, and FRC is closely monitoring the situation moving forward.
