PUBLIC INTEREST DISCLOSURE CLAIMED
Whilst no-one is holdng their breath or expects anything other than a cover-up, I thought it might be of more than passing interest to see the chronology and other documents provided to Institute of Chartered Accountants in England & Wales today as they escalate the complaint up one notch to
Do click on the links and the Financial Reporting Council website. If you are concerned with ICAEW's (mis)conduct do send them a note asking them what they think they are doing.
NB. CEO has been removed with more than £250k payoff (see June 2023 news sources) and Head of Regulatory has now been "demoted" to a mere Forensic Accountant
Original single consolidated pdf: https://app.box.com/s/kdt4r35i4slmvl45mzyp3er8bedgk5mx
CHRONOLOGY
Re: Owen Pettifor, Member BDO llp and Statutory Auditor QUANTEXA Ltd.
27 June 2023 Domain name CLCL.UK registered
3 July 2023 CLCL incorporated1
July 2023 Web contact with QUANTEXA unanswered
11 July 2023 Letter to President ICAEW unanswered
13 July 2023 Letter to Colin Bell (CEO HSBC Bank plc) unanswered
17 July 2023 BDO sign audit report for y/e 31 March 2022
28 July 2023 Accounts for y/e 31 March 2022 filed at Companies House
8 August 2023 Email to Owen Pettifor – BDO llp Statutory auditor
14 August 2023 Quantexa Chief Operating Officer resigns
22 August 2023 CLCL Blog commenced with links to documents.
13 November 2023 Complaint to ICAEW
21 November 2023 ICAEW commences consideration of complaint
21 December 2023 Owen Pettifor approves accounts for y/e 31 March 2023
23 December 2023 Quantexa files audited accounts at Companies House
9 January 2024 ICAEW finds no case to answer.
12 January 2024 Companies House makes public Quantexa’s accounts with further falsehoods
26 March 2024 Quantexa files Confirmation Statement rebutting facts relied on by ICAEW.
April 2024 Complaints to:
Securities & Exchange Commission
Financial Conduct Authority
British Venture Capital Association
Venture Capital Trust Association
May 2024 Referral to ICAEW Independent Disciplinary Committee
FOOTNOTE
1 August 2023: Background explanation given to Journalists who asked how Quantexa’s problems came to my attention:
“Pure coincidence.
I set up http://clcl.uk/ to bring "AI" solutions to the most basic statutory compliance requirements, and have long argued that simple database analysis and imposition of civil fines (if collected!) would solve 90% of the Companies House problems and Parliament has now agreed in the Economic Crime and Corporate Transparency Bill after my and others testimony.
So I signed up for all the AI blogs, trade associations etc and thought it worthwhile checking if those who are peddling "compliance solutions" can actually be bothered to keep their own statutory compliance up to date. Quantexa was a clear stand-out example of "talk the talk" but can't "walk the walk" and to find that the guru of compliance (per his CV) is Colin Bell of HSBC is on the board is quite a coup. Why hasn't he of all people fixed it? I fear there is only one answer and it won't make good reading.
I contacted the company first but no-one bothered to reply so I escalated it as it proves my CLCL concept is vitally needed.”
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