11 June Disciplinary Committee ordered severe reprimand *

Transcription

1 news release 11 June 2015 Disciplinary Committee ordered severe reprimand * On May 2015 the Disciplinary Committee of ACCA (the Association of Chartered Certified Accountants) found proved the following allegations against a former member Mr John Stanbridge of Hilton Head Island, United States of America. Allegation 1 (a) Pursuant to bye-law 8(a)(ii), it is alleged that Mr Stanbridge dealt with the affairs of Company A inadequately, inefficiently, and/or incompetently in that in relation to any or all of the matters set out below, he: (i) Failed to make all monthly net salary payments to Mr A, an employee of Company A during the period April 2008 to October 2008, and associated tax and national insurance payments to Spanish authorities, until he had been continually pursued to do so by Mr A; (iii) Failed to make two specific payments in accordance with instructions from Mr A, which were first issued in form on 8 February 2009, in a timely manner;

2 Allegation 2 Pursuant to bye-law 8(a)(iii) it is alleged that Mr Stanbridge has breached paragraph 5 of Section 3.18 of ACCA s Rulebook (as applicable in ) by reason of failing to obtain a signed letter of engagement between Company C (subsequently, Company C Group) and Company A throughout the period of the firm s appointment. Allegation 4 Pursuant to bye-law 8(a)(i), it is alleged that Mr Stanbridge is guilty of misconduct by reason of being found by the High Court of Justice Chancery Division to have forged the name of Ms B on a facility letter and a charge, both dated 2 June Mr Stanbridge s conduct in relation to the above was: (a) dishonest. (b) contrary to the fundamental principle of integrity. Allegation 5 (b) Pursuant to bye-law 8(a)(iii), it is alleged that Mr Stanbridge has breached bye-law 10(b) by reason of his failure to inform ACCA of the fact that he was found by the High Court of Justice Chancery

3 Division to have forged the name of Ms B on a facility letter and a charge, both dated 2 June Allegation 1 Bundle B Pursuant to bye-law 8(a)(viii) (as applicable in 2012), Mr Stanbridge is liable to disciplinary action by reason of his failure to satisfy a judgment debt in the sum of 596, in favour of Company D on 25 May 2012 without reasonable excuse, for a period of two months. The Disciplinary Committee ordered that Mr Stanbridge be given a severe reprimand; fined 40,000 and determined that Mr Stanbridge may not make any application for readmission until the expiry of five years from the effective date of this order. Mr Stanbridge was ordered to pay costs of Please note that this may be the subject of an appeal. ACCA s regulations require ACCA to publish the Committee s findings and orders by way of a news release, as soon as practicable. The Committee has discretion as regards to which publications the news release should be sent, and discretion in exceptional circumstances to direct that the relevant person is not named. The Committee ordered that the news release should be issued to ACCA s website and to the local press including that local to his current residence in America and his former professional address in Spain, referring to Mr Stanbridge by name.

4 * An order made by the Disciplinary Committee shall take effect from the date of expiry of the Appeal Period referred to in the Appeal Regulations unless the Committee directs that the order should have immediate effect.

5 news release - ends - For further information, please contact: Alana Sinnen, ACCA Newsroom + 44 (0) (0) alana.sinnen@accaglobal.com Helen Thompson, ACCA Newsroom +44 (0) (0) helen.thompson@accaglobal.com Notes to Editors 1. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. 2. We support our 162,000 members and 428,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 89 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and

6 development. Through our public interest remit, we promote appropriate regulation of accounting, and conduct relevant research to ensure accountancy continues to grow in reputation and influence. 3. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development, and we seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that, through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.