At a hearing of the Disciplinary Tribunal of the Institute
of Chartered Accountants of New Zealand on the 1st day of May 2003, the tribunal recorded that Richard John Foran, of Auckland, pleaded guilty to the following charges and admitted the following particulars:
THAT in terms of the Institute of Chartered Accountants Act 1996 and the Rules made thereunder, and in particular Rule 21.30:
A. the member has been convicted of an offence punishable by imprisonment and the conviction reflects on his fitness to practise accounting and/or tends to bring the profession into disrepute.
B. the member is guilty of conduct unbecoming an accountant.
As to Charge A:
On or about the 2nd day of December 2002, the member was convicted at the North Shore District Court, having pleaded guilty, and sentenced to two years' imprisonment in relation to three charges of crimes of dishonesty.
As to Charge B:
In relation to his practice as a chartered accountant, and in the course of acting for a client, the member:
(a) held on to client funds for an excessive and/or unreasonable and/or improper time;
(b) failed properly to forward Inland Revenue Department refunds to his client; and
(c) failed within a reasonable and proper time to respond to communications from his client and his client's solicitor.
The tribunal found the member guilty as charged and the particulars proven.
Orders of the Tribunal:
(a) Pursuant to Rule 21.31 (a) of the Rules of the Institute of Chartered Accountants of New Zealand, the disciplinary tribunal ordered that Richard John Foran be removed from the institute's Register.
(b) Pursuant to Rule 21.33 of the Rules of the Institute of Chartered Accountants of New Zealand, the disciplinary tribunal ordered that Richard John Foran pay to the institute the sum of $3,583.00 (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 reaching its view, the tribunal considered in relation to Charge A that the member's conviction for the above offence reflected on his integrity and that it was not in the interests of the public or the institute for him to remain as a member.
In light of its decision on Charge A, the tribunal considered it was unnecessary to consider penalty under Charge B.
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
New Zealand Herald, the New Zealand Gazette and
the Chartered Accountants Journal of New Zealand with mention of the member's name and locality.
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 7th day of May 2003.
A. N. FRANKHAM, Tribunal Chairman.