Two Tory councillors have resigned from an audit committee - saying their professional reputations as accountants are at risk by alleged irresponsible finance decisions.

Conservatives Cllr David Cockburn-Price and Martyn Stone have stepped down from Pendle Council's audit committee.

They say their professional status as accountants means they cannot be associated with allegedly irresponsible financial decisions by the borough's Labour-Lib Dem leadership.

But their claims have been rejected by the administration. They say budget plans are sustainable and the Tories have walked away from shaping and scrutinising decisions.

Cllr Cockburn-Price, who was committee chairman, wrote to the borough's chief exec stating: “My professional and personal reputation, and the ethical standards as a fellow of the Institute of Chartered Accountants in England and Wales, preclude me from continuing in this role when warnings about financial sustainability are being wilfully ignored by the Labour-Lib-Dem coalition.”

He claimed support for keeping three council-owned leisure centres and Labour opposition to Conservative ideas on council tax, fees and charges were examples of a ‘head in the sand’ attitude.

Cllr Stone's letter to the council's resources director said: "The professional ethics to which I am bound as a fellow of the Association of Chartered Certified Accountants preclude me from continuing to serve as a member of the committee when concerns about the financial sustainability of the council are being wilfully ignored by the administration.

He added: “This has not been an easy decision and I hope to re-join the committee when the administration draws-up credible plans to move to a balanced budget in the medium term.

“But unfortunately, in the interim, I feel the committee is not sufficiently able to influence the administration’s reflexive tendency to burn through reserves.”

Independent Cllr Mohammed Iqbal said: “It’s interesting to see Cllr Stone lecturing us on finance when he and David Cockburn-Price have abdicated their responsibilities on arguably the most important roles at the council.”

Lib-Dem Cllr David Whipp added: “I’m flabbergasted they have resigned. We have a balanced budget and can show you the medium-term financial strategy.”

He said the last Tory administration raided reserves by £1.2m when the original planned use was £800,000.

Question marks have also been raised recently about the borough's executive reinstating £119,000 to the Nelson area committee's budget for 2023-24.

Labour had argued the area committee was hindered by delays with county council engineering works. The reallocation proposal will need to go to the full council for a final decision.

Cllr Nadeem Ahmed, Tory leader, told a full council meeting : “At the last executive meeting, a decision was taken to raid reserves by £170,000. There have been other actions by the administration which have cost the council large amounts. The current budget was passed earlier this year but reserves have been raided far-higher than original proposals."

He accused Labour of having a "total disregard" for the borough's finances and was worried Pendle would follow the fate of cash-strapped councils such as Birmingham and Slough.

Cllr Whipp said: “There was no decision to raid the reserves. There was a discussion about £120,000 which will come to the December meeting. It’s not a decision for £170,000.

“This year’s budget was passed and came from three-party talks and consensus, which I think Cllr Ahmed was involved with. But when the budget vote came, Cllr Ahmed said we [the Conservatives] are not voting for it but they pushed through the council tax.

“Cllr Ahmed asks what will we do? We had a budget working group but the Tories were not there. He says we have collective responsibility. But that needs collective participation. There are only two parties willing to do it, plus an Independent.”