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November 3, 2010

Audit watchdog investigates Baker Tilly UK

Baker Tilly UK is being investigated by the Accountancy and Actuarial Discipline Board (AADB) over its work for electrical car manufacturer Tanfield Group plc.

The AADB investigation will focus on the preparation and audit of the 2007 financial statements, on the valuation of certain assets on the balance sheet of Tanfield Group

and whether impairment provisions processed in 2008 should have been recognised at least in part in the previous accounting period.

The watchdog said financial statements of Tanfield Group for the year ended 31 December 2009 will not be investigated.

According to Tanfield Group’s 2007 financial statement it made £11.9m in revenue after tax and a loss after impairment of £88.5m in 2008.


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