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Accountant fined after disciplinary
An accountant from St Ives has been banned from his professional association and fined £750 after allegations that he did not have the appropriate documentation.
Robert Dixon was found guilty of misconduct by the disciplinary committee of the Association of Chartered Certified Accountants (ACCA) of two allegations last November and their findings have now been made public.
He was accused of carrying on public practice without a practising certificate between 2003 and 2007 and being the sole shareholder of a company where public practice was carried out without a practising certificate between 2007 and 2010.
The disciplinary committee ordered that Mr Dixon be excluded from membership of the ACCA, fined and that the decision should be published.
A Timaru accountant has been fined for his audit of a failed finance company, understood to be Mascot Finance.
The New Zealand Institute of Chartered Accountants professional conduct committee has ordered that Martin Wakefield director Richard John White be "severely reprimanded" and pay costs to the institute in the sum of $2675 after breaches of its code of ethics and the fundamental principles of competence, performance and independence.
The matter was heard in private in November, the decision released in December and the findings published in this month's Chartered Accountants Journal.
Mr White was the lead engagement partner in the audit of the company for 10 to 15 years until 2008 and signed audits off that were used in the company's prospectus.
Mascot Finance failed in March 2009, with $69.4 million paid out under the Government's deposit guarantee scheme to 98 per cent of investors, according to the last receivers' report.
Mr White said yesterday it was the first time in his 38-year career he had been disciplined by the institute.
"I think all auditors of finance companies have been put under the spotlight."
Robert Dixon was found guilty of misconduct by the disciplinary committee of the Association of Chartered Certified Accountants (ACCA) of two allegations last November and their findings have now been made public.
He was accused of carrying on public practice without a practising certificate between 2003 and 2007 and being the sole shareholder of a company where public practice was carried out without a practising certificate between 2007 and 2010.
The disciplinary committee ordered that Mr Dixon be excluded from membership of the ACCA, fined and that the decision should be published.
A Timaru accountant has been fined for his audit of a failed finance company, understood to be Mascot Finance.
The New Zealand Institute of Chartered Accountants professional conduct committee has ordered that Martin Wakefield director Richard John White be "severely reprimanded" and pay costs to the institute in the sum of $2675 after breaches of its code of ethics and the fundamental principles of competence, performance and independence.
The matter was heard in private in November, the decision released in December and the findings published in this month's Chartered Accountants Journal.
Mr White was the lead engagement partner in the audit of the company for 10 to 15 years until 2008 and signed audits off that were used in the company's prospectus.
Mascot Finance failed in March 2009, with $69.4 million paid out under the Government's deposit guarantee scheme to 98 per cent of investors, according to the last receivers' report.
Mr White said yesterday it was the first time in his 38-year career he had been disciplined by the institute.
"I think all auditors of finance companies have been put under the spotlight."
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