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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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