Today’s news in brief – 15/11/2024

Amanda Nightingale, a former BDO auditor, has been banned from accountancy for 20 years by the Financial Reporting Council (FRC) for severe misconduct. Between 2015 and 2019, she falsified signatures, created fake documents, and issued unauthorised audit reports. The FRC labelled her actions as “sustained dishonesty” that undermined trust in the profession. Despite affecting smaller companies, the scale of her misconduct was deemed extremely serious. BDO self-reported her actions in 2019 and has since improved its controls. Nightingale is excluded from ICAEW and fined £10,000. The FRC continues to investigate BDO and other involved individuals to ensure accountability. FRP Advisory, as part of the Joint Administrators, has won a £177.5m High Court claim against former London Capital & Finance (LCF) CEO Andy Thomson and others. The defendants were found guilty of fraudulently operating a Ponzi scheme and misappropriating funds, deceiving bondholders with false promises of returns. LCF collapsed in 2019, leaving investors at a loss. This judgement allows administrators to recover substantial funds for creditors of LCF and London Oil & Gas. David Hudson of FRP praised the decision, emphasising their role in exposing systemic fraud and delivering justice for affected investors. Saffery has moved its Yorkshire operations to a new 5,000 sq. ft. office at 10 Wellington Place in Leeds city centre, creating a modern, open-plan workspace. The firm, which retains meeting spaces in Harrogate, employs 84 staff and offers services such as audit, tax, and business advisory. Jonathan Davis, head of Saffery Leeds, highlighted the move as a milestone that strengthens accessibility, recruitment potential, and commitment to clients. Positioned in Leeds’ financial hub, the relocation reflects Saffery’s continued growth, with plans for strategic hires. The move aligns with its ethos of blending local expertise with national and international resources. Buzzacott has advised Totara Learning on acquiring Chambury Learning and Think Associates Ltd, expanding its global learning management technology capabilities. Totara, serving over 20 million users, specialises in customizable workforce solutions. The acquisitions bring 130 customers, 70 staff, and $10m (£7.8m) in revenue uplift, enhancing Totara’s focus on public sector and healthcare markets. Buzzacott’s team, led by Alex Judd, provided transaction and tax due diligence. The deal supports Totara’s strategy of integrating partner expertise while scaling operations globally. Chambury and Think benefit from Totara’s resources to target larger contracts and expand their training and consultancy offerings.