unscruplious accountants acting as auditors

ants09

Hi just a note

I am a auditor and we get a e-mail from the cro telling us companies who we have signed auditors reports for in the past month.

The last report we got we went down it and notice a name of a company that we know nothing about so we done a bit of investigating and found out that this year and last year we were meant to have signed a audit report for this company.

We notice that another firm of accountants actually submitted the B1 and accounts to the cro and that this firm is not a firm of registered auditors.

The directors of the company have to sign off on these accounts and well love to know there explanation ?

SBWife

ants09 wrote: »

Hi just a note

I am a auditor and we get a e-mail from the cro telling us companies who we have signed auditors reports for in the past month.

The last report we got we went down it and notice a name of a company that we know nothing about so we done a bit of investigating and found out that this year and last year we were meant to have signed a audit report for this company.

We notice that another firm of accountants actually submitted the B1 and accounts to the cro and that this firm is not a firm of registered auditors.

The directors of the company have to sign off on these accounts and well love to know there explanation ?

Don't you think it would be more appropriate and professional to contact the company instead of posting about the situation on boards?

ants09

SBWife wrote: »

Don't you think it would be more appropriate and professional to contact the company instead of posting about the situation on boards?

Why ?

i am not naming the company just bringing it to the attention of boards members etc

i have no obligation professional or otherwise to contact the directors of the company or the accountants who filed the B1 !

SBWife

Your firm name and presumably someone at that firm's signature was used fraudulently and you see no reason to do anything other than post about it on boards.

WOW I'm literally dumbfounded at the ethical abyss.

ants09

SBWife wrote: »

Your firm name and presumably someone at that firm's signature was used fraudulently and you see no reason to do anything other than post about it on boards.

WOW I'm literally dumbfounded at the ethical abyss.

Did i actually say i done nothing about it ?

I posted it up on here to let people know that there are accountants out there that will ....

and what ethical abyss are you referring to !

J.Ryan

ants09 wrote: »

Why ?

i am not naming the company just bringing it to the attention of boards members etc

i have no obligation professional or otherwise to contact the directors of the company or the accountants who filed the B1 !

You have a professional responsibility not to allow your name to be associated with financial statements which may be misleading, you should contact your institute to see is it appropriate for you to write to the directors, they may be unaware of this fraud.

You should also contact the institute of the accountant who filed the B1, again just my opinion.


You should also check that its not one of your staff (or former staff)assisting a nixer, but you're not the first firm this happened to and you won't be the last, that is why the CRO now send out a monthly list and ask that you notify them of any errors in the list.

barneystinson

SBWife wrote: »

Your firm name and presumably someone at that firm's signature was used fraudulently and you see no reason to do anything other than post about it on boards.

WOW I'm literally dumbfounded at the ethical abyss.

Wow I'm literally dumbfounded at the level of your condescension! :rolleyes:

Obviously the guy isn't posting on here to fix his firm's problem, but to raise awareness of the fact that this is actually happening.

It's like if you were driving down the road and saw a huge hole had opened up in it, you would certainly contact the relevant authority, but you might also text the AA, or the radio station...

So climb down from yer high horse would ya.

cson

barneystinson wrote: »

Wow I'm literally dumbfounded at the level of your condescension! :rolleyes:

Obviously the guy isn't posting on here to fix his firm's problem, but to raise awareness of the fact that this is actually happening.

It's like if you were driving down the road and saw a huge hole had opened up in it, you would certainly contact the relevant authority, but you might also text the AA, or the radio station...

So climb down from yer high horse would ya.

She's 100% correct. Any material doubt should be referred to a higher level for a opinion. Whilst the OP is correct to question, expecting an answer from an internet message board is far from the correct p.o.a - one should seek opinion from their manager/partner so on.

viztopia

i came accross a case of this earlier this year where au unqualified accountant from Dunshaughlin was taken to court for signing audit reports when he didnt hold an auditors certificate and he received 4 years in jail. I should be able to provide a link if the mods thought it would be ok?

dbran

Hi

I would tend to be with barneystinson on this one.

The OP is not actually asking for advise. He is just posting on the forum the fact that there are a small minority people/accountants who are signing off audit reports when they are not entitled to do so.

Unlike the term "accountant" the term "auditor" is protected under company law. The ODCE and the relevant accountancy institutes will take a very dim view of this and will certainly prosecute under company law if it is brought to their attention.

Regards

dbran

dbran

Hi Viztopia

There was another case in Wicklow of a qualified accountant (CPA) being taken to court by the ODCE. He just got fined €3500 but the damage to his business must have been enormous as well as facing disqualification from his own institute from acting as an accountant. Not to mention the stress of having to drag your former clients into court so they can act as a witnesses to the prosecution in your own trial.

I don't think its necessary to provide a link although it is in the public domain if anyone wants to look it up for themselves.

Kind Regards


dbran

JD Dublin

viztopia wrote: »

i came accross a case of this earlier this year where au unqualified accountant from Dunshaughlin was taken to court for signing audit reports when he didnt hold an auditors certificate and he received 4 years in jail. I should be able to provide a link if the mods thought it would be ok?

I'd like to see the details on this person that got 4 years in jail, as this has happenned to our firm.

A company just picked our name out of the phone book and filed audited accounts themselves. We only found out about it when a new accountant contacted us looking for professional clearance to do work on the client.

J.Ryan

JD Dublin wrote: »

I'd like to see the details on this person that got 4 years in jail, as this has happenned to our firm.

A company just picked our name out of the phone book and filed audited accounts themselves. We only found out about it when a new accountant contacted us looking for professional clearance to do work on the client.

Go to the ODCE website, they have a section for court cases, sorted by the date of the decision, going back 12 pages.

barneystinson

cson wrote: »

She's 100% correct. Any material doubt should be referred to a higher level for a opinion. Whilst the OP is correct to question, expecting an answer from an internet message board is far from the correct p.o.a - one should seek opinion from their manager/partner so on.

Oh my god man, what are you talking about... Ants09, would you please come back and sort this out please!

You (and SBwife) appear to labouring under an absurd misapprehension that upon making his discovery about this unscrupulous accountant, the OP decided that his first and only action would be to come on Boards and await further instruction.

I don't know the guy, but I've got a crisp €20 note that says most of his workplace, including partner(s) knew about the situation long before he made it on here to tell the boardsies, and the partners in his firm, being grown ups with some modicum of cop-on, will have taken the appropriate steps...

The OP came on here, with a (misspelt!) post called "Unscrupulous Accountants acting as Auditors", and what is the first line of the OP? "JUST A NOTE" - I don't know about ye, but from this I read that he is trying to warn people, spread the word, raise awareness...

I'm not sure how you and SBwife infer from what he has posted that he wants advice or guidance... unless you have seized upon the question mark at the end of the OP, which clearly indicates a rhetorical question (unless you are aware of what company he's referring to, and are in a position to proffer an explanation for their actions..? )

ants09

barneystinson wrote: »

Oh my god man, what are you talking about... Ants09, would you please come back and sort this out please!

You (and SBwife) appear to labouring under an absurd misapprehension that upon making his discovery about this unscrupulous accountant, the OP decided that his first and only action would be to come on Boards and await further instruction.

I don't know the guy, but I've got a crisp €20 note that says most of his workplace, including partner(s) knew about the situation long before he made it on here to tell the boardsies, and the partners in his firm, being grown ups with some modicum of cop-on, will have taken the appropriate steps...

The OP came on here, with a (misspelt!) post called "Unscrupulous Accountants acting as Auditors", and what is the first line of the OP? "JUST A NOTE" - I don't know about ye, but from this I read that he is trying to warn people, spread the word, raise awareness...

I'm not sure how you and SBwife infer from what he has posted that he wants advice or guidance... unless you have seized upon the question mark at the end of the OP, which clearly indicates a rhetorical question (unless you are aware of what company he's referring to, and are in a position to proffer an explanation for their actions..? )

just to make it clear i didnt post my op up to see what actions i was meant to take !

I am a member of a accountancy body and i was in contact with them and others organisations a while back

I didnt come onto boards to ask what should i do as give me credit i under took professional exams and know whats what.

I just came onto boards to say what happen and not oh my god what shall i do please advise me as i havent a clue.

ps can a mod close this thread as i am not looking for opinions or advice i just wanted people to know .....