In posts on LinkedIn, retired lawyer Dave Jaques has upped his battle with BDO Auckland (specifically Growth Advisory Partner Nicholas Innes-Jones) to review supplier and sales contracts and verify cashflow forecasts for bank lending for his digital billboard business, Digital Signs (2017) Limited.
He claims Innes-Jones provided positive verification and advisory support.
Jaques further claims that BDO failed to disclose it was also acting as the registered office and accountants for his largest competitor (Lumo Digital), presenting this as an undisclosed conflict of interest.
During a subsequent 2020 funding review by another BDO partner, Andy McKay (a licensed insolvency practitioner), Jaques states that discrepancies arose in the accounting treatment and advice between the two BDO partners. He claims McKay then provided what he describes as an inaccurate report to the bank, which resulted in the withdrawal of lending support.
These claimed events and the alleged failure to manage conflicts form the basis of Jaques’ public complaints. He has recorded that he lodged formal complaints against the named BDO partners with Chartered Accountants Australia and New Zealand (CAANZ), which have been dealt with, and he continues to call for mediation or ADR to resolve the matter.
