Accountants struck off

The Institute of Chartered Accountants has released its decision on three wayward accountants.

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

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