ACCA investigates former president

07 Jan 2010, Rachael Singh, AccountancyAge

http://www.accountancyage.com/aa/news/1775069/acca-investigates-president

The former president of the ACCA, Dennis Yeates, is being investigated by the institute after he pleaded guilty on a charge of theft.

Yeates, a former health service finance director, cheated his step-son and daughter-in-law out of £20,000.

He pleaded guilty to theft at Warwick Crown Court and received an eight month prison sentence suspended for two years.

On the back of the charges ACCA has confirmed it is reviewing the case. Yeates could face a professional disciplinary board of the institute.

A spokesman said: “Whilst we are very sad to learn of this story, any member who misappropriates funds is liable to disciplinary action by ACCA. The matter is being looked into by ACCA’s Professional Conduct team."

The ACCA conduct team is selected by an independent appointments committee (made up of non-ACCA members), and will be either a senior accountant, lawyer or laypeople with experience of regulatory and disciplinary matters.

"We don’t know who will assess the case, they deal with cases on a rota basis," the spokesman added.

The PC team, following their investigation, will decide whether Yeates will have to attend a disciplinary hearing. The institute anticipates that a decision will be reached on whether a hearing will go ahead within six months.

Yeates stole money from his step-son, daughter-in-law and wife claiming he would invest it for them. He was ordered to pay £500 in court costs and undertake 180 hours of community service.

Accountancy Age was unable to contact Yeates at the time of publishing.

However,

Clearly,This does not disrepute ACCA & professional ethics it epitomises.

Regards

Posted by: Jiten , 01 Feb 2010 | 00:00

DISSAPPOINTING BUT ....

ACCA as a body has made it's stand on proffessional ethics very clear and consistently so and cannot therefore come in disrepute

Posted by: Paul Mutale M C , 22 Jan 2010 | 00:00

One poor judgement only...

All those comments about losing confidence in the institution and the profession were quite over-the-top! And for those even tried to level one person's poor judgement with over 100 years of profession, how self-serving or completely ignorant it might sound? Hey after all, he wasn't even engaging in any accounting frauds, unlike the many MPs out there. Are we going to question the integrity, professionalism and ethics of the whole parliament?

Posted by: ck , 11 Feb 2010 | 00:00

Institute

What has it got to do with the Institute ?

The Association may be !

Posted by: Spike , 12 Feb 2010 | 00:00

disgrace to acca profession

i think this is a disgrace to acca profession espeically the fact that this guy has once held such a prestigious position of acca.iam always looking up to people in such position.this is really bad news for people in such position at acca institute,i wonder what image are we getting in the professional world.my father used tell me always to be a man of integrity since my childhood,so my fellow professionals: integrity,professionalism and ethics.

Posted by: paul , 07 Feb 2010 | 00:00

Kind of ironic really...

http://www.icab.bb/UserFiles/File/Dennis_YeatesDYICAC.pdf

Oh and by the way... I know where he's living now...

Posted by: Anonymous , 19 May 2010 | 00:00

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