The Disciplinary Tribunal finds that Nicholas Cushnahan, a member of the Institute, whilst a partner in the Houlihan Cushnahan with an address at 1-4 Adelaide Road, Glasthule, County Dublin, did act in breach of the Institute’s Code of Ethics for Members (2011-2014) Fundamental Principles: (e) Professional Behaviour by
- Failing to communicate adequately and in a timely manner with syndicate members; and (c) Professional Competence and Due Care; and (e) Professional Behaviour by
- Furnishing accounts to syndicate members which indicated unintentionally that they had been prepared by another firm of Accountants when that was not the case.
The Disciplinary Tribunal made an Order as to Sanction that the Member be subject to a severe reprimand, a fine of €5,500 and costs in the amount of €3,000.
BACKGROUND AND OUTLINE OF DISCIPLINARY MATTER
A complaint was submitted to Chartered Accountants Ireland alleging that the member put a syndicate together, raised a bank loan and purchased property on behalf of a retirement fund scheme. It is alleged that the member failed to adequately communicate with the complainants in relation to the scheme, and that the member furnished partnership accounts in respect of the syndicate partnership which indicated that they had been prepared by another firm of accountants when that that was not the case.
Following an investigation a Disciplinary Tribunal made the above finding and order.
This Disciplinary matter was concluded in accordance with the settlement provisions set out in Chartered Accountants Ireland’s Disciplinary Regulations, the proposed terms of settlement having been approved by the Disciplinary Tribunal on 3 July 2020.
IDENTIFICATION OF APPROPRIATE ORDERS
Recognising the benefits of resolution through the settlement process, the Disciplinary Tribunal considered the findings and orders made appropriate having regard to the objectives of the Disciplinary Bye-Laws, the public interest, the applicable guidelines on sanctioning and the particular facts and circumstances of the matter before it.
This order took effect from 3 July 2020.