Accountants struck off
Three accountants, including failed finance company directors Rob Roest and Anthony Walpole Bowden, have been struck off by the Institute of Chartered Accountants' disciplinary tribunal.
The third is Robert Philip Bell, a Tirau accountant who failed to keep up with the tax obligations relating to two of his companies, which were subsequently liquidated.
All three cases were brought before the tribunal in a disciplinary hearing on Wednesday, although Bowden was the only one who turned up.
A fourth accountant had a disciplinary case heard, but the tribunal will wait 14 days to release its decision because the member, whose name is suppresed in the meantime, may appeal.
The institute's professional conduct committee (PCC) told the tribunal it wanted all the accountants struck off.
Bridgecorp director Roest was sentenced in May to six and a half years in prison.
The tribunal agreed with the PCC's striking off request, saying: "Acting dishonestly with intent to deceive the public, as the Court found, is incompatible with membership of the institute."
Roest was also ordered to pay costs of $4100.
Similarly for Five Star Finance director Bowden, the tribunal found his actions were serious enough to warrant striking off, and he was also ordered to pay costs of $4300.
While Robert Philip Bell did not set out to deceive the public, people needed to be protected from his continued "mismanagement" of his own affairs, which "brings discredit to the profession".
Mr Bell was ordered to pay costs of $8027.
callison@nbr.co.nz





















Comments and questions4
RE the decision relating to Mr Bell. If the Institute is going to have regard to personal finances, perhaps it should conduct audits into the personal finances of its members - it may be surprised to find that many are not only poor money managers but poor business people as well.
Unless NZICA is brought into disrepute by a member,the fact that one member may make a million dollars a year and buy a $500,000 motor car,or that another member may make $60,000 a year and buy a $40,000 motor car,has no relevance to NZICA.
In all trades and professions you mind a varied degree of success in terms of the capitalist viewpoint.
If an accountant has a socialist viewpoint whereby he charges low fees yet works long hours and has little material to show for it,by your philosophy you would condemn hin and applaud someone who charges high fees,works short hours and flaunts his wealth.
NZICA is not interested in the business acumen of its members unless they bring disrepute,as Mr Bell did.
They have dealt with him accordingly,as one would expect.
Will the NZICA ever have the teeth to compensate the victims? If accountants wan't to protect their profession more needs to be done.
Instead of making generalised comments,give us something specific to debate.
Accountants in public practice must carry adequate P I insurance.
If they do not do so,they cannot provide accounting services to the public.
In addition,the normal civil remedies are available.
So what are you actually talking about ?