At a hearing of the Disciplinary Tribunal of the Institute of Chartered Accountants of New Zealand on the 18th day
of September 2002, the Tribunal recorded that John Philip O'Connell, practising in Lower Hutt, pleaded not guilty
to the following charges and did not admit the following particulars:
THAT in terms of the Institute of Chartered Accountants of New Zealand Act 1996 and the Rules made thereunder, and in particular Rule 21.30:
(a) The member has been guilty of conduct unbecoming an accountant; and
(b) The member has breached the Code of Ethics of
the Institute.
IN THAT
? In circumstances where the member's firm acted for a client company and/or in circumstances where the member's firm was owed money by a client company:
(a) The member attempted to be appointed as liquidator of that company.
The Tribunal found the member guilty as charged and the particulars proven.
Orders of the Tribunal:
(a) Pursuant to Rule 21.31 (c) of the Rules of the Institute of Chartered Accountants of New Zealand, the Disciplinary Tribunal ordered that John Philip O'Connell pay a monetary penalty of $4,000.00.
(b) Pursuant to Rule 21.31 (k) of the Rules of the Institute of Chartered Accountants of New Zealand, the Disciplinary Tribunal ordered that John Philip O'Connell be censured.
(c) Pursuant to Rule 21.33 of the Rules of the Institute of Chartered Accountants of New Zealand, the Disciplinary Tribunal ordered that John Philip O'Connell pay to the Institute the sum of $4,298.00 (inclusive of G.S.T.) in respect of the costs and expenses of the hearing before the Disciplinary Tribunal and the investigation by the Professional Conduct Committee.
In accordance with Rule 21.35 of the Rules of the Institute of Chartered Accountants of New Zealand, the Disciplinary Tribunal directed that the decision be published in the Chartered Accountants Journal of New Zealand and the New Zealand Gazette with mention of the member's name and locality.
In reaching its decision the Tribunal took into account the nature of the charges and particulars, the member's evidence, the member's demeanour, attitude and approach and the fact that the Tribunal considered that the member was less than honest in his responses to the questions of the Professional Conduct Committee.
Right of Appeal:
Pursuant to Rule 21.41 of the Rules of the Institute of Chartered Accountants of New Zealand which were in force at the time of the original notice of complaint, the member may, not later than 14 days after the notification of this Tribunal to the member of
the exercise of its powers, appeal in writing to the Appeals Council of the Institute against the decision.
No decision, other than the direction as to publicity shall take effect while the member remains entitled to appeal or while any such appeal by the member awaits determination by the Appeals Council.
Dated this 20th day of September 2002.
MARK SHENNAN, Secretary, Disciplinary Tribunal.