WANDERERS have taken the first measures towards having their transfer embargo lifted by the Football League.

The appointment of a new head of finance, Shaun McHugh, and new auditors in the form of Bolton-based firm Cowgill-Holloway, were confirmed by the club yesterday.

Wanderers had been looking for a financial director since the departure of John Pelling to Stoke City at the start of the year and had severed ties with long-standing auditors Deloitte.

Both McHugh, a former Crystal Palace director of finance, and the new auditors will be rushed quickly into action to file the accounts for 2015/16.

The paperwork is due at Companies House by the end of the month but is it understood the club plans to file “as quickly as possible” and will not meet the deadline.

Once the accounts are in, Wanderers hope to present a fitting business plan to the EFL which will enable the embargo – which has stood in place since December 2015 – to be lifted.

Chartered accountant McHugh was in charge of finances at Selhurst Park between 2001-2006 and has also been involved with the BAR Formula One racing team and the Amateur Boxing Association.

In his online CV McHugh claims to have saved the Eagles approximately £700,000 per annum through introducing internal controls to reduce overspending and more than £5million in external financing.

He said: “There are tremendous opportunities for the football, hotel and events businesses to grow and I am looking forward to playing my part in this.”

Ken Anderson added: “Shaun has a great background in finance and has strong experience of working in football.

“His experience and detailed knowledge of the industry will stand us in good stead as we look to continue rebuilding Bolton Wanderers Football Club.”

Cowgill-Holloway, based on Chorley New Road for more than 30 years, were referred to by Anderson as a firm with a “strong pedigree.”