Accountant David McPhedran. Photo / ODT.
Dunedin accountant David McPhedran has been removed from the register of members of the New Zealand Institute of Chartered Accountants after being found guilty of professional misconduct.
Earlier this month, the institute's appeals council dismissed an appeal relating to penalty, costs and name publication. There was no appeal against the
findings of guilt.
In a decision dated November 8 last year, the institute's disciplinary tribunal found McPhedran guilty of professional misconduct, conduct unbecoming an accountant, negligence and breaching the institute's code of ethics.
He had previously pleaded guilty to the breach of the code of ethics. The charges arose from complaints by former clients around the Your Business Team business that he co-owned, and an advisory and mentoring business that traded as 10X.
The tribunal found McPhedran was "hopelessly conflicted". He furthered his own interests at the expense of two clients, taking advantage of them when they were vulnerable, and was deceitful in some of his dealings with them.
