Tory Mayoral Candidate Embroiled in Ongoing Probe By UK Audit Watchdog

After much speculation about a mystery big name female business figure being lined up as a Tory London mayoral candidate, it was announced this week that Ruby McGregor-Smith is running. A big name in the literal sense. So who is she?

McGregor-Smith is a self-styled successful businesswoman who was the boss of cleaning company Mitie until October 2016. She quit the company after a profit warning and as the company restated its accounts following an ‘accounting issue’. At the time she faced calls to have £2 million in bonuses taken away from her. When she said she was stepping down to spend more time with her family, the Evening Standard’s city editor Jim Armitage commented: “Believe that, and you’ll believe anything”, reporting the company had “lost its way” during her tenure and concluding: “I doubt the board begged McGregor-Smith to stay”.

In November 2017, the FT reported that individuals responsible for preparing and approving the Mitie accounts were under investigation by the Financial Reporting Council, the UK’s audit watchdog. McGregor-Smith did not respond to requests for comment from the FT. Mitie admitted it had been aggressive in its accounting practices. A spokesman for the Financial Reporting Council says the investigation is ongoing…

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