Tauranga accountant struck off

A Tauranga accountant convicted for tax evasion and perjury has been struck off the Institute of Chartered Accountants register of members.

Accountant Bruce Woodward has been removed from the Chartered Accountants register of members after being convicted of tax evasion and perjury last year.

Bruce Woodward was sentenced to 10 months' home detention and 150 hours community work after being found guilty of 12 counts of tax evasion totalling $110,000 and one count of perjury in Tauranga District Court in July last year.

Woodward's company, Turnstyle Management Limited, failed to return $41,000 of Income Tax between 2002 and 2007.

Woodward was personally found to have evaded tax of $69,500.

As a result of his offending, Woodward avoided paying taxes of just over $111,000 to Inland Revenue.

The Institute of Chartered Accountants' disciplinary tribunal has this week decided to remove Woodward from its register of members.

The institute's chief operating officer Kirsten Patterson stated in a letter to the tribunal that Woodward's conduct fell well below that expected of their members.

It was yet to be decided whether Woodward would be ordered to pay $8500 to cover costs of the hearing, investigation and an adjournment in December because of his financial situation.

Woodward, 60, who used to work as a chief financial officer for former publicly listed company Kidicorp, was demoted to an accounting technician after his sentencing.

An accounting technician is the lowest form of qualification which the New Zealand Institute of Chartered Accountants recognises.

He tried to appeal his perjury conviction but had his appeal denied in April this year.

Read more here.

2 comments

Perspective e

Posted on 10-06-2014 23:47 | By Crash test dummies

Audit NZ Kaipara mess makes thus look very small


What penalty was imposed ?

Posted on 16-06-2014 20:06 | By ROCCO

Hey hang about demoted to accounting technician being lowest form of qualification Icanz recognises -the question is why is he still on its books- this is gobblegook garbage.


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