I am currently a trainee accountant in a company in the North East. We own 51% of a subsidiary company, with the other 49% owned by a separate company to ourselves.
I am a trainee accountant, and as part of my training I have been undertaking the monthly management accounts for this business, and upon completion sending them out to the other company owners, having first sought approval of the accounts from the Company Accountant, and our Managing Director.
It has since transpired that the information I sent out was wrong for three consecutive months without the errors being spotted, and I am now being formally disciplined with my employer citing "(other company's) management have lost faith in the accuracy and relevance of your reports."
I am not qualified at this stage, having not taken any of my managerial level papers, a fact the company are aware of. Is it right that I be held solely responsible for the accounts being sent out inaccurately?
It may be worth noting that the accounts in question included our company year-end accounts and that the company accountant said at the time he had performed a "thorough and comprehensive review" of the accounts, and that he failed to spot the mistake whilst we have since had external auditors in, who also failed to spot the error.
The company accountant is the person conducting the disciplinary hearing and I have been warned to expect a final written warning for my misconduct. I have accepted my responsibility for the mistakes occurring in the first place, however I'm less convinced that I am entirely to blame for the loss of faith suffered, when qualified people haven't been able to see the mistakes themselves.
Am I actually even technically allowed to send the monthly accounts out to our partner company without specific approval from a qualified person? My hearing is on Monday morning, so any advice before then would be gratefully received!
Thanks in Advance