An ICAEW member who admitted issuing 51 audit reports in the name of his firm when it was not registered as an auditor has been excluded from membership
Edward Jenkins also admitted that he had not held a practising certificate or professional indemnity insurance for more than eight years. In fact, his practising certificate had been cancelled in April 2000 following a serious disciplinary finding against him with “elements of dishonesty”.
His more recent misconduct came to light in November 2011 when ICAEW was contacted by a firm of solicitors who revealed that they had received correspondence from him in which he claimed to have been preparing and signing accounts. He admitted everything and resigned from membership in December 2011.
During the Disciplinary Committee tribunal hearing, Jenkins explained he had suffered serious health problems and had had personal and business problems. He also set out his poor financial situation.
The tribunal took all these factors into consideration as well as the fact of his cooperation with investigators, his admission and contrition. It excluded him, fined him £2,000 and ordered him to pay costs of £3,000.
“While it is unusual to make an order for both exclusion and a fine,” it said, “the tribunal considered these circumstances to be exceptional in that, because Mr Jenkins had resigned, the exclusion order was not an effective sanction. Nonetheless, it ordered his exclusion so as to maintain public confidence in ICAEW.”
It added that, according to the Guidance on Sentencing, the starting point for acting as an auditor when not registered is exclusion and a fine of £11,500 while for engaging in public practice without a practising certificate where doing so was deliberate of reckless, it was exclusion and a fine of £5,750.
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Exclusion for non-registered auditor
An ICAEW member who admitted issuing 51 audit reports in the name of his firm when it was not registered as an auditor has been excluded from membership
Edward Jenkins also admitted that he had not held a practising certificate or professional indemnity insurance for more than eight years. In fact, his practising certificate had been cancelled in April 2000 following a serious disciplinary finding against him with “elements of dishonesty”.
His more recent misconduct came to light in November 2011 when ICAEW was contacted by a firm of solicitors who revealed that they had received correspondence from him in which he claimed to have been preparing and signing accounts. He admitted everything and resigned from membership in December 2011.
During the Disciplinary Committee tribunal hearing, Jenkins explained he had suffered serious health problems and had had personal and business problems. He also set out his poor financial situation.
The tribunal took all these factors into consideration as well as the fact of his cooperation with investigators, his admission and contrition. It excluded him, fined him £2,000 and ordered him to pay costs of £3,000.
“While it is unusual to make an order for both exclusion and a fine,” it said, “the tribunal considered these circumstances to be exceptional in that, because Mr Jenkins had resigned, the exclusion order was not an effective sanction. Nonetheless, it ordered his exclusion so as to maintain public confidence in ICAEW.”
It added that, according to the Guidance on Sentencing, the starting point for acting as an auditor when not registered is exclusion and a fine of £11,500 while for engaging in public practice without a practising certificate where doing so was deliberate of reckless, it was exclusion and a fine of £5,750.
Exclusion for non-registered auditor
An ICAEW member who admitted issuing 51 audit reports in the name of his firm when it was not registered as an auditor has been excluded from membership
Edward Jenkins also admitted that he had not held a practising certificate or professional indemnity insurance for more than eight years. In fact, his practising certificate had been cancelled in April 2000 following a serious disciplinary finding against him with “elements of dishonesty”.
His more recent misconduct came to light in November 2011 when ICAEW was contacted by a firm of solicitors who revealed that they had received correspondence from him in which he claimed to have been preparing and signing accounts. He admitted everything and resigned from membership in December 2011.
During the Disciplinary Committee tribunal hearing, Jenkins explained he had suffered serious health problems and had had personal and business problems. He also set out his poor financial situation.
The tribunal took all these factors into consideration as well as the fact of his cooperation with investigators, his admission and contrition. It excluded him, fined him £2,000 and ordered him to pay costs of £3,000.
“While it is unusual to make an order for both exclusion and a fine,” it said, “the tribunal considered these circumstances to be exceptional in that, because Mr Jenkins had resigned, the exclusion order was not an effective sanction. Nonetheless, it ordered his exclusion so as to maintain public confidence in ICAEW.”
It added that, according to the Guidance on Sentencing, the starting point for acting as an auditor when not registered is exclusion and a fine of £11,500 while for engaging in public practice without a practising certificate where doing so was deliberate of reckless, it was exclusion and a fine of £5,750.
Exclusion for non-registered auditor
An ICAEW member who admitted issuing 51 audit reports in the name of his firm when it was not registered as an auditor has been excluded from membership
Edward Jenkins also admitted that he had not held a practising certificate or professional indemnity insurance for more than eight years. In fact, his practising certificate had been cancelled in April 2000 following a serious disciplinary finding against him with “elements of dishonesty”.
His more recent misconduct came to light in November 2011 when ICAEW was contacted by a firm of solicitors who revealed that they had received correspondence from him in which he claimed to have been preparing and signing accounts. He admitted everything and resigned from membership in December 2011.
During the Disciplinary Committee tribunal hearing, Jenkins explained he had suffered serious health problems and had had personal and business problems. He also set out his poor financial situation.
The tribunal took all these factors into consideration as well as the fact of his cooperation with investigators, his admission and contrition. It excluded him, fined him £2,000 and ordered him to pay costs of £3,000.
“While it is unusual to make an order for both exclusion and a fine,” it said, “the tribunal considered these circumstances to be exceptional in that, because Mr Jenkins had resigned, the exclusion order was not an effective sanction. Nonetheless, it ordered his exclusion so as to maintain public confidence in ICAEW.”
It added that, according to the Guidance on Sentencing, the starting point for acting as an auditor when not registered is exclusion and a fine of £11,500 while for engaging in public practice without a practising certificate where doing so was deliberate of reckless, it was exclusion and a fine of £5,750.
Source: economia.icaew.com