Summary
IT must be one of the greatest comebacks since Lazarus. Deloitte senior partner John Connolly is set to be unveiled as Britain's best- paid accountant - Pounds 2.8 million last year - when his secretive firm finally reveals its financial figures for the first time next month. This, of course, is the same John Connolly who a decade ago became one the most reviled accountants in the industry for his role in the audits of crooked investment firm Barlow Clowes. DTI and accountancyprofession investigations into the scandal, which cost the taxpayer Pounds 150 million in compensation to investors, pilloried Connolly and fined him Pounds 40,000 for conduct and competence that "fell below the standard expected". Connolly was also blacklisted by the Treasury, preventing him from picking up any Government accounting work. What a comeback, indeed.
CONNOLLY must be highly prized by his partners if they are prepared to pay him more than double Nick Land, his counterpart at Ernst Young, and nearly a million more than the bosses of KPMG and PricewaterhouseCoopers. Not only is Connolly the lead partner on Deloitte's single biggest audit client, Royal Bank of Scotland, he has also used his bruising negotiating skills to hammer together the merger with the rump of the collapsed Andersen.See the full content of this document
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City Spy
Unfortunately, he is also the senior partner who had to write the cheque for Deloitte's highly embarra...
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