Appointed on behalf of the husband, whose wife was the shareholder and company director.
The wife’s shareholding had been valued by a Big 4 firm’s London office, who were also the auditors of the company, at in the region of £4 million. Our work led us to the view that the value of the wife’s shareholding was worth nearer £14 million. We obtained a significant amount of documentation from work carried out by the same Big 4 firm’s corporate finance team and auditors, which undermined the valuation being put forward and also identified a £5 million calculation error.