At a hearing held on the 13th day of March 2002, the Disciplinary Tribunal of the Institute of Chartered Accountants of New Zealand considered an ex parte application from the Professional Conduct Committee of
the Institute to suspend a member.
The Tribunal received evidence that Russell Charles Sears, of Taumarunui, had, in his role as a contract accountant during the period of his contract and without authorisation or knowledge of Athletics New Zealand, banked cheques totalling $28,550.50 to his personal accounts or accounts of entities controlled by him and falsified the cheque butts to conceal this.
The Tribunal resolved unanimously, pursuant to Rule 21.20 of the Rules of the Institute of Chartered Accountants of New Zealand issued under the Institute of Chartered Accountants of New Zealand Act 1996, to suspend Russell Charles Sears from membership on the terms that:
(a) The Tribunal is satisfied that it is necessary and desirable, having regard to the interests of the public, that Russell Charles Sears be and is suspended from membership of the Institute of Chartered Accountants of New Zealand pending the further order of the Tribunal.
(b) Following the expiration of 14 days from the giving of notice of this decision to Russell Charles Sears, notice of suspension be published in The Dominion, the Wanganui Chronicle, the New Zealand Gazette and the Chartered Accountants Journal of
New Zealand.
At a subsequent hearing of the Disciplinary Tribunal held on the 18th day of April 2002, an application from Russell Charles Sears under Rule 21.21 for revocation of the order concerning publication was considered.
The Tribunal resolved unanimously and ordered that:
(a) Pursuant to Rule 21.21, Russell Charles Sears' application for revocation be declined in that the Tribunal was satisfied that it was necessary and desirable, having regard to the interests of the public, that notice of his suspension be published in The Dominion, the Wanganui Chronicle, the New Zealand Gazette and the Chartered Accountants Journal of New Zealand.
(b) Following the expiration of 14 days from the giving of notice of this decision to Russell Charles Sears, notice of the suspension be published in The Dominion, the Wanganui Chronicle, the New Zealand Gazette and the Chartered Accountants Journal of New Zealand.
(c) Pursuant to Rule 21.33, Russell Charles Sears pay to the Institute the sum of $1,944.00 (inclusive of G.S.T.) in respect of the costs and expenses of the hearing before the Disciplinary Tribunal.
Dated this 18th day of June 2002.
MARK SHENNAN, Secretary, Disciplinary Tribunal.