The Financial Reporting Council (FRC) has closed the investigation into the conduct of Christopher Moore, a former member of the ACCA and former executive of software retailer Torex Retail plc.
Following the conclusion of a seven-month investigation, the accounting regulator has decided that there is insufficient evidence of misconduct during the period in which Moore was a member and therefore subject to the FRC Accountancy Scheme.
As a result of the lack of evidence, FRC said it was not possible 'to give a realistic prospect that a tribunal would make an adverse finding against Mr Moore. Consequently, no further action will be taken and the case in relation to him will be closed'.
A spokesperson at the FRC told Accountancy Live that it is still investigating Mark Woodbridge, the former group financial accountant of Torex Retail, who was jailed for his part in a fraud where the company's accounts were manipulated to show healthy trading.
In June 2013, Woodbridge was sentenced to three years and 10 months' imprisonment, disqualified from acting as a company director for three years and ordered to pay costs of £170,000 within 12 months.
The FRC’s investigation was announced on 4 December 2013.
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