ICA discipline - 'Worst disciplinary record' holder
Tribunal heard complaints from Revenue, banks, creditors and the Insolvency Service, reports Jon Bunn
A disgraced chartered accountant has gained the unenviable title of having the ‘worst disciplinary record’ ever seen by the English ICA.
The institute’s disciplinary committee expelled former insolvency practitioner Wilfred Wyatt, of Downs Road, Rotherham, for a string of misdemeanours which included failing to pay PAYE and national insurance contributions deducted from the salaries of a company that was in liquidation.
Wyatt, 68, who gave up both his insolvency practice and his licence in 1995, was also fined #5,000 with costs of almost #5,000 for the disciplinary breaches which began in 1992.
Most of the complaints against the former Neville Russell partner – which were listed in ten bundles before the committee – involved his failure to properly supervise individual voluntary arrangements leading to complaints from creditors, the Inland Revenue, banks and the Insolvency Service.
The committee heard that Wyatt, who had been fined twice before for failing to provide information to the investigation committee, had been overwhelmed by his work after he opened a new practice in Rotherham in 1992.
A JIMU visit in 1994 and a series of recommendations failed to solve the problem forcing Wyatt, who was cleared of any dishonesty, to give up his practice.
The tribunal also heard that Wyatt plans to concentrate on tax advice.
