Unemployment figures and Du Val accountant guilty of discrediting profession. Business with 2degrees and BusinessDesk's Garth Bray.
A Waikato chartered accountant has pleaded guilty to unbecoming conduct and discrediting the profession, following the collapse of property group Du Val.
The accountant admitted four charges at a New Zealand Institute of Chartered Accountants (NZICA) disciplinary tribunal hearing in Wellington on Monday.
Du Val was placed into statutory managementin August 2024, owing an estimated $306 million.
The accountant’s name was suppressed until 5pm on Tuesday to allow their firm to inform clients.
Du Val was a major client for the person, who provided external compilation and tax compliance services to the group.
The charges relate to a period after the property developer failed in late 2024, when minority shareholders of Du Val Property Group appealed to the Government to take it out of statutory management, claiming that part was solvent.
