Court report: Accountant’s conflicting approach to client funds
Transferring client funds to buy a car and not declaring conflicts of interest; Hamish McNicol on the accounting indiscretion. With special feature audio.
Hot Topic
Infrastructure
A Napier accountant will not be able to provide services to the public for a year following an industry body disciplinary tribunal finding against him.
Scott Nathan McCarthy was last week censured after admitting to a charge of conduct unbecoming an accountant over two instances between 2013 and mid-2015.
The first was that over two years he paid about $15,000 to himself from an unnamed client to cover the purchase of a Hyundai motor vehicle, without the company’s knowledge or authority.
Mr McCarthy also admitted to failing to identify and manage conflicts of interest that arose over six months from late 2014, based on different roles and personal interests he had with entities and a client.
Two other charges against him were withdrawn.
Mr McCarthy accepted the recommended penalty of censure and a provision he does not reapply for a Certificate of Public Practice until June next year.
It’s not his first run in with the disciplinary arm of the New Zealand Institute of Chartered Accountants.
Back in 2014 he was cautioned following another complaint about a conflict of interest.
Follow NBR on Facebook, Twitter, LinkedIn and Instagram for the latest news and free on-demand audio from NBR Radio.
NBR Radio
Thu, 30 Jun 2016
Thu, 30 Jun 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Court report: Accountant’s conflicting approach to client funds
59497