Ex-EY whistleblower wins £8.6m in damages

A former partner at the accounting firm EY has been awarded .8m (£8.6m) in damages after being forced out of his job when he exposed professional misconduct during an audit of a Dubai gold refiner. The high court in London ruled on Friday that EY had repeatedly breached the code of ethics for professional accountants in its dealings with one of its clients, Kaloti Jewellery International. The claim was brought by Amjad Rihan, who revealed that silver-coated gold had been shipped from Morocco to avoid export restrictions and precious metal obtained from other countries such as Sudan, the Democratic Republic of the Congo and Iran without due diligence. Mr Justice Kerr found EY had breached its duty to Rihan through failing to perform the Kaloti audit in an ethical and professional manner. My life was turned upside down as I was cruelly and harshly punished for insisting on doing my job ethically, professionally and lawfully in relation to the gold audits in Dubai. “For these reasons, the importance of good due diligence and regulation in the gold refining industry and other ‘conflict minerals’ trading is emphasised in guidance published by the Organisation for Economic Cooperation and Development (OECD) and in US legislation known as the Dodd-Frank Act.