Reply to: Uptons Accountants... FSA wins £3.7M compensation on behalf of investors.

[Waldorf]

I would agree that a change of accountants is the way to go, if you just stand back and look at the facts, your accountant has been heavily slapped by the FSA, your accountant set up a scheme offering unrealistic returns, your accountant has not repaid all the monies owed to the investors, your accountant must repay £10,000 a month for 7 years, at the end of this your accountant will still have investors who have lost a considerable sum of money.

Considering the above WHY are you sticking with them, what part of the above is considered professional conduct?

At the end of the day each must make their own mind up but if it is because you cannot be bothered then you should cease moaning and hope for the best!

[Old Greg]

Well I only came across this now and I am totally alarmed - These are very serious allegations and the fact that the FSA have been involved make this even more severe.

Why don't you change accountants?

[DeludedAussie]

I am amazed that it has taken you this long to question whether you would wish to continue with your accountant, I would have done this as soon as this news broke.

I would imagine that their accounting body are already looking into this, but like all investigations, these take months to come to any conclusion.

Well I only came across this now and I am totally alarmed - These are very serious allegations and the fact that the FSA have been involved make this even more severe.

[Waldorf]

What is the latest on this topic? How are an accountancy firm carrying out illegal activities which involve the FSA freezing assets

As a client of Upton at the moment this has seriously got me concerned - I am surprised that the Chartered accountancy body has not become involved and decided whether you would face disciplinary action

Can you share the reassurance emails publicly?

I am amazed that it has taken you this long to question whether you would wish to continue with your accountant, I would have done this as soon as this news broke.

I would imagine that their accounting body are already looking into this, but like all investigations, these take months to come to any conclusion.

[DeludedAussie]

Perfectly reasonable question to ask, if the tables were turned would be asking the same thing.....we've had a few emails wanting a bit of reassurance and more than happy to reply to them.

What is the latest on this topic? How are an accountancy firm carrying out illegal activities which involve the FSA freezing assets

As a client of Upton at the moment this has seriously got me concerned - I am surprised that the Chartered accountancy body has not become involved and decided whether you would face disciplinary action

Can you share the reassurance emails publicly?

[Newby]

Reasonableness

Oh your question is absolutely reasonable, I merely asked why would you see a benefit to raising this question in the public domain. ( I may have been trying to get a rise when I said you were making him beg for your business )

As if by magic, Darren, who has already said that it is hard for him to communicate about the facts of this case in an open forum, has asked for you to email him directly.

That's one of the reasons have to be careful what I say....

I was actually trying to help Darren out by saying what I did. It is a private matter to be discussed privately.

Sorry if I rattled your cage, no offence intended.

[Darren@UptonAccountants]

Perfectly reasonable question to ask, if the tables were turned would be asking the same thing.....we've had a few emails wanting a bit of reassurance and more than happy to reply to them.

[gpc]

Newby - Where am I asking Uptons to beg for my business?. I think you have interpreted my questions as an attack!.

Uptons already have my business and I am happy with the service so far. I was speaking in general terms about how the accountancy side is safegaurded from what ever else is going on.

I have no issues with Uptons other than, on reading this, it knocks confidence. Im sure im not the only one interested whether there is any impact to the accountancy side.

I dont intend on moving my business, and so far I have no reason not to recommend the service. It was a general question of interest about how the matter is being dealt with and a reassurance that all is well on the accountacy side.

Whats wrong with that?

[Darren@UptonAccountants]

Hi GPC, drop me an email and I'll be happy to discuss.

The accounts side of things is still being carried out by the same staff that have been with us for some time. You've kindly recommended us to others, the service will be the same going forward. About 95% of all our new business comes from referral which is greatly appreciated, in fact we've had a couple earlier today.

[Newby]

Why would you write that in a public forum? - Why wouldn't you contact Darren privately?

You are right that the recent press reports concerning Upton will raise doubts, but this really is an issue between you/your co and Upton Accountants.

To publically ask him to beg for your business isnt v.professional IMHO.

[gpc]

As an Upton Client

....this makes me a little nervous.

As an Upton Client, and someone that has recommended your services to colleagues this makes me wonder whether my accounts are safe in your hands.
I have to be honest it has made me question whether I am getting the service I pay for?
Is the advice that I receive from your company correct? Are my accounts being treated as I would expect a reputable accountant to treat them?

You say the accountancy side isnt impacted but it does raise the question of professionalism and trust....

What will you do to ensure that you are treating your acountancy clients with the professional service that they expect?

Rgds

[Wanderer]

I assume you meant "biased" there.

Oops, yes. I've corrected the original post.

[Darren@UptonAccountants]

Google

Especially when these threads can easily be picked up via a well-known search engine.

That's one of the reasons have to be careful what I say....believe me no-one feels as bad as I do about the whole situation which is one of the reasons feel morally obliged to put it right and working to achieve it.

[SueEllen]

I've no axe to grind with Darren or Uptons and am just as dis-interested as NAT but based on Darren's answers to this thread and others relating to this matter, wouldn't ever consider using Upton's accountancy services.

A little humility (and an honest apology) goes a long way!

Especially when these threads can easily be picked up via a well-known search engine.

[Clippy]

I assume you meant "biased" there.

The BBC and FT are well respected, but if you've ever seen a report in any form of media, about something that you know a lot about, it becomes obvious that journalists (or their editors) frequently get things wrong, misunderstand and miss out on important detail. With the BBC and FT you have a better chance that this won't happen maliciously.

Take this quote from the link:

This applies a general principle to a specific case. Maybe the reason they got the money back is because Darren didn't misappropriate any money. But at first reading, you get a very negative view.

I'm not an apologist for Darren or his company - I'm entirely disinterested. I'm just pointing out that you cannot rely on journalists for a full picture of events. No matter how hard they try to provide that.

And neither can you rely on the individual who was found guilty.

Threads relating to these events have been posted a few times in the past and, IMO, Darren's comments really do come across as flippant for what is an extremely serious matter.

Even in this thread, the main message coming across is poor me, poor me rather than one of contrition which, for someone who I would imagine has a significant customer base that uses this board, is quite frankly shocking.

I've no axe to grind with Darren or Uptons and am just as dis-interested as NAT but based on Darren's answers to this thread and others relating to this matter, wouldn't ever consider using Upton's accountancy services.

A little humility (and an honest apology) goes a long way!