Former Tech Data FD fined by the Financial Reporting Council

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Phillip James has been handed a 10 year ban from the ACCA and a £35,000 fine after admitting to allegations of misconduct

The Financial Reporting Council (FRC) has handed former finance director of Tech Data a £35,625 fine and a 10-year ban from the Association of Chartered Certified Accountants.

Phillip James, former finance director of Tech Data, admitted to 12 allegations of misconducts around the financial statements of the company, that was known as Computer 2000, in the financial years ending January 31 2012 and January 31 2013.

The fine, due to be £100,000, has been reduced after taking into account James’ financial resources as well as a discount for settling without a full hearing.

In February 2014 the FRC launched a disciplinary investigation after Tech Data carried out an internal investigation and restated the profits of Computer 2000 for the previous three years by $27 million (£20 million).

Mobile News has reached out to Tech Data for comment.

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