More than 450,000 companies may have to change their accounting processes as the Financial Reporting Bill moves into its next phase in Parliament.
KPMG partner Bill Wilkinson is the latest accountant to fall foul of the industry’s self-disciplinary process following the wave of finance company failures.
Mr Wilkinson, who has been an audit and advisory partner for over 20 years, was censured and ordered to pay costs of $9,577 (plus GST) after pleading guilty to two charges brought by the Disciplinary Tribunal of the Institute of Chartered Accountants.
Byron Pearson, an Ashburton chartered accountant, has pleaded guilty to five amended charges of breaching industry codes of ethics relating to an audit of South Canterbury Finance's financial statements.
At a hearing held in Wellington yesterday, Mr Pearson pleaded guilty to the charges brought by the disciplinary tribunal of the New Zealand Institute of Chartered Accountants.