Accountant admits taking client money for 8 years

Christopher George Wright this month pleaded guilty by correspondence to professional misconduct as well charges for negligence or incompetence in a case.

An Auckland book keeper has been kicked out of the New Zealand Institute of Chartered Accountants after admitting taking client money for eight years.

Christopher George Wright this month pleaded guilty by correspondence to professional misconduct as well a charge for negligence or incompetence in a case before the institute's disciplinary tribunal.

The tribunal, in a decision released last week, removed Wright as a member of the institute.

The tribunal said in its decision that when interviewed by investigators, Wright "acknowledged he had been taking client monies for approximately eight years".

Wright was provided a copy of the investigator's report and the tribunal said he agreed it gave a "fair and accurate description of his conduct including misappropriation of client monies and failure to operate his trust account" in accordance with the rules.

It was "disturbing", the tribunal said, that the only evidence that Wright paid back some of his clients their IRD refunds was after a complaint was made to the institute.

"The tribunal finds that the member's conduct - the misappropriation of at least $280,000 over approximately 18 months and his admission that he had been taking client monies over approximately eight years - constitutes misconduct in a professional capacity," its decision said.

When deciding on the penalty, the tribunal said it was of the view that "dishonesty of this type is incompatible with membership of the institute".

"The public and the profession are entitled to expect that members conduct themselves with honesty and integrity".

As well as removing his name from the institute's register, the tribunal ordered him to pay costs of $56,853.​

No-one answered the door when the Herald visited an address associated with Wright on the Companies Office.