Martin and Lamb under ICA watch

Azlan ex-employees in hot seat after reports of accounting irregularities.

The English Institute of Chartered Accountants (ICA) is launching anities. enquiry into two former Azlan employees after the distributor reported that accounting irregularities were the main reason for its loss in profits.

The distributor's ex-CEO Christian Martin and former group financial director Adrian Lamb will come under scrutiny for their involvement in financial problems which resulted in the company reporting losses of #14.1 million.

According to a report issued by Azlan and auditor KPMG, which undertook an investigation into the company: 'Certain areas of wrong doing were identified, including serious neglect on the part of individuals and, possibly, acts of concealment and improper behaviour.'

But Peter Bertram, group finance director at Azlan, said: 'This action is typical of these associations, but I would have expected a call from the ICA and I haven't had one.'

Commenting on Lamb, who is still an employee of the distributor but is currently under suspension, Bertram said: 'He is going through disciplinary procedures in accordance with company procedures.' But he added: 'We will look at what comes out of this.'

A source at the ICA commented: 'If a member of the ICA is potentially liable for any professional misconduct or shoddy work, the ICA is entitled to investigate.'

He added that the proceedings can move to a number of stages. If the claim against the member is proven, he/she may be severely reprimanded and an additional fine incurred.

Martin claimed he had not been notified of any proceeding against him by the ICA.

ICA refused to comment.