Saturday, April 24, 2010

Accountant Sanctioned For Conflict Of Interest

The Idaho Supreme Court affirmed sanctions imposed by the State Board of Accountancy against an accountant who had engaged in a personal relationship with a client while jointly advising the client and her spouse in the preparation of a joint tax return. The relationship had started before an extension was obtained and the return filed. The ethical complaint was filed by the spouse. The board ordered that the accountant pay a fine and costs. The board also required the accountant to take four hours of ethics training.

The court found that the board had reasonably concluded that the conduct ran afoul of ethical rules governing conflicts of interest. However, the board was not entitled to attorneys fees for the prosecution of the charges of misconduct. (Mike Frisch)

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