Tauranga accountant Ian Stevenson has been struck off the New Zealand Institute of Chartered Accountants register and ordered to pay $60,000 after being found guilty on numerous charges.
The NZICA upheld a series of serious charges against the former accountant following a disciplinary tribunal hearing in October this year.
Ian Stevenson has been found guilty of numerous charges following a tribunal hearing on October 16.
Stevenson was charged with conduct unbecoming of an accountant and negligence and/or incompetence in a professional capacity.
He was also charged with breaching the NZICA’s rule 21.4(b) and breaching the institute’s code of ethics.
Tribunal documents reveal that Stevenson failed to perform an independent valuation of a business and/or act as an independent expert in relation to family court proceedings.
The tribunal has suppressed the details surrounding the family court matter.
In relation to the second charge, the report says Stevenson failed to perform professional work with due care and diligence, therefore breaching the fundamental principle of quality performance and/or Rule 9 of the Code of Ethics.
This charge also included his failure to issue compilation reports following practice reviews in 2009 and 2012.
Stevenson was also charged in relation of “attempting to recover fees from Mr X” despite being sanctioned by the Professional Conduct Committee on or about March 22, 2006 for improperly attempting to charge fees for time spent responding to a complaint from Mr X. “The tribunal finds the member has been both negligent and incompetent in a professional capacity in more than one respect.
“The shortcomings have been ones not expected of an accountant of the member’s experience and have continued over a period of many years.”
The tribunal’s report, released this month, goes on to say that the tribunal also accepts the member’s conduct as such that nothing short of removing his name from the register would be an appropriate penalty.
“The member has advised the tribunal that he did not dispute or contest his name being removed from the register.”
The Professional Conduct Committee sought full costs of $118,193 at Stevenson’s hearing on October 16. The hearing was adjourned to allow time for Stevenson to provide the tribunal with information about his financial position.
“The tribunal is satisfied that his income prospects are sufficient to provide some capacity to pay.
“On balance, the tribunal considers having regard to all the submissions received that an appropriate cost is $60,000, about 50 per cent of the costs sought.”
In 2012, Stevenson was censored by the NZICA after pleading guilty to three charges arising from a client complaint.
He was ordered to pay the $42,889 cost of his prosecution.
Read more about the censorship here.