Gavin Hinks, Accountancy Age, Thursday 12 August 2010 at 08:32:00

Interim finance director in at Rok after BDO report reveals "serious failings"


Rok, the repair and maintenance group, has suspended its finance directorfollowing a report that the company's financial controls were "failing".

In a statement yesterday Rok said a review of its plumbing, heating andelectrical (PHE) business by BDO which concluded that there had been "seriousfailings in the financial controls" in the division.

Rok also announced that FD Ashley Martin had been suspended and thatshort-term replacement had been brought in.

"The Board has decided that the Company must have new financial leadership.Ashley Martin has therefore been suspended with immediate effect and his day today duties passed to David Miller, a specialist interim CFO, who was ChiefFinancial Officer of Amey PLC between 1998 and 2002," a Rok statment said.

The company said that as a result of problem in PHE it expected group resultsto be below market expectations.

Read more:

Rokstatement

AXAsigns up new FD

KierGroup loses FD