Investigation regarding the conduct of two individual accountants in relation to Woking Borough Council’s operations and investment activities
News types: Investigations
Published: 13 February 2025
This Press Notice concerns the opening of an investigation into the relevant individuals. The investigation does not relate to any persons or entities other than the relevant individuals and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities.
The Financial Reporting Council (“FRC”) has commenced an investigation under the Accountancy Scheme* into the conduct of two individual accountants in relation to their compliance with governance, reporting, regulations and professional standards in respect of Woking Borough Council’s operations and investment activities for the financial years ended 31 March 2017 to 31 March 2023. The individuals are no longer employed by the Council.
The decision was made at a meeting of the FRC’s Conduct Committee on 17 December 2024.
The investigation will be conducted by the FRC’s Executive Counsel.
*The Accountancy Scheme covers Members and Member Firms of the following professional bodies for accountants: Institute of Chartered Accountants in England and Wales (ICAEW), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Public Finance and Accountancy (CIPFA), Institute of Chartered Accountants in Ireland (ICAI), Association of Chartered Certified Accountants (ACCA), and Institute of Chartered Accountants of Scotland (ICAS). Find further information about the Accountancy Scheme.