Convicted accountant fined for discrediting the profession
An accountant who was sentenced to six years in prison for “soliciting to murder” has been ordered to pay costs of £2,240 to the ICAEW for bringing “discredit” on the profession.
At the time of the conviction “Mr A” - who was not named because of ill health of a family member – was a member of ICAEW but, since the institute did not see the press coverage of the conviction he was allowed to resign his membership in October 2002.
Mr A said the reason for resigning his membership was that he was going abroad and did not intend to continue in practice. He finally reported his criminal conviction to the institute in June 2003, two months before he was released from prison, the ICAEW’s disciplinary committee heard.
Mr A was released from prison in August 2003. In 2006 he applied to be readmitted as a member of the institute. This was refused but in 2011 his request for approved.
When sentencing Mr A the institute’s tribunal took into account the “exceptional circumstances” of the case, the passage of time and evidence of the member’s rehabilitation and that he had been readmitted to membership. The tribunal decided to impose no sanction other than a fine.
The case was one of the disciplinary rulings published by the ICAEW earlier in June.
In a separate case, accountant David Arthur Rice was “severely reprimanded” for improperly retaining a payment of £2,937 from a client of a chartered accountant, Thomas Westcott Partnership (TW), whom he worked for until June 2010.
Rice was also reprimanded for failing to make £21,474 of pension payments for employees between 2005 and 2008, the tribunal heard.
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- Retained payment
- Pension payment