Accountants fined over breaches
THE INSTITUTE of Chartered Accountants has fined four North West accountants and cancelled the membership of another for various breaches.
The professional body has taken action against: David Meacher-Jones, managing partner at Meacher Jones in Chester; Grant Smith of Armstrong Watson in Carlisle; Murray Patt of Alexander Knight Accountants in Manchester; Mark Bringloe, who has been working as a sub-contractor doing due diligence work for Cowgill Holloway in Manchester; and Allan Speakman of Beever & Struthers in Manchester.
Mr Meacher-Jones has been “severely reprimanded”, fined £6,350 and ordered to pay £3,400 in costs for failing to obtain and submit external reviews of four audits, in breach of conditions imposed by the Audit Registration Committee in 2012. His firm also accepted the appointment as auditor of two other companies in further breach of the conditions. Mr Meacher-Jones said he was appealing the decision.
Grant Smith was also “severely reprimanded” and fined £6,600 and ordered to pay £2,690 in costs for failing to review payroll accounting records, in breach of Charity Commission rules, while carrying out an independent examiner’s report. Armstrong Watson did not respond to an invitation to comment.
Murray Patt has been fined £5,000 and ordered to pay costs of £2,155 for taking a loan from the director of a company he was auditing in 2012. He was working for Haines Watts at the time. In a brief statement he said, “I’m pleased this historic matter is resolved”.
Mark Bringloe has been fined £2,300 and ordered to pay costs of £2,180 for operating without a practicising certificate from October 2011 to March 2014, and for not having professional indemnity insurance from October 2011 to September 2013.
Cowgill Holloway said Mr Bringloe was self-employed and works on a limited number of projects for the firm as a sub-contractor.
It added: “Work he carries out for Cowgill Holloway does not require a practising certificate as he is not a partner of the firm. Any work Mark carries out for Cowgill Holloway is covered under our professional indemnity insurance.”
The ICAEW (Institute of Chartered Accountants for England and Wales) said Allan Speakman had ceased to be a member for failing to pay outstanding fines and costs.
Mr Speakman said: “As a result of a complaint against me in October 2013, I was required to pay a fine in monthly payments. Unfortunately and partly as a result of a serious family illness, I missed some payments and consequently ceased to be a member of the ICAEW.
“As this was not a matter that directly involved the firm, Beever and Struthers was unaware of the non-payments. Payment has been made in full and I expect to be reinstated as a member.”
