David Turnbull, chief executive of the UK 200 Group of Accountants, has been fined £1,500 with £6,000 costs by the English ICA for using information acquired via his work for personal gain, writes Chris Quick.
An institute disciplinary committee imposed the penalty after hearing how he had visited a pub to sign an agreement purchasing shares in a company for which his firm, Turnbulls, acted as auditor.
Turnbull denied the charges, but the committee found him guilty of breaching a fundamental principle of the institute’s professional ethics and ordered he be reprimanded. The committee said he had ‘failed to behave with integrity in his professional and financial relationship with directors of the company’ and had ‘continued to act for the company when he had a conflict of interest’.
The UK 200 Group includes around 200 firms engaged in general practice.
KPMG has also been penalised by the institute. It received a £2,500 fine with £2,500 costs for offences related to misdating accounts.
Complaints fall at English ICA, p3.
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