June 21, 2018 / 7:01 AM / 3 months ago

Former RSM Tenon finance director barred from accounting over misconduct

LONDON (Reuters) - Britain’s Financial Reporting Council (FRC) on Thursday excluded the former finance director of a collapsed accounting firm from accounting for five years, and fined him 57,000 pounds ($74,875.20) plus 825,000 pounds towards the costs of the investigation.

Russell McBurnie, who left London-listed RSM Tenon in 2012 before it collapsed into administration in 2013, admitted “extensive misconduct” in relation to the preparation and approval of the firm’s 2011 financial statements, the FRC said.

Auditor PriceWaterhouseCoopers admitted misconduct and was fined 5.1 million pounds for signing off on the accounts in August 2017.

McBurnie did not immediately respond to a request for comment on LinkedIn.

Reporting by Emma Rumney, editing by Sinead Cruise

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