Revocation stayed with three years' probation, via stipulated settlement.

Mr. Fazio's license is suspended for 9 months.

Mr. Fazio shall at all times maintain an active license status.

Mr. Fazio is required to reimburse the Board $4,019.56 for its investigation and prosecution costs.

Other standard terms and conditions.

Effective September 1, 2008

Mr. Fazio was sanctioned by the Public Company Accounting Oversight Board (PCAOB), an action subjecting his CPA license to discipline. The PCAOB entered the decision and order on December 10, 2007.

Without admitting or denying the findings in the PCAOB Order, Mr. Fazio consented to entry of the Order that barred Mr. Fazio from being an associated person of a registered public accounting firm for at least two years.

In its order, the PCAOB found that Mr. Fazio had violated certain PCAOB auditing standards in regard to auditing the financial statements of Ligand Pharmaceuticals, Inc. for the year 2003. Mr. Fazio was the Deloitte & Touche, LLP partner assigned to the Ligand engagement, responsible for leading the audit engagement team and authorizing the issuance of the audit report.

In conducting the audit, PCAOB later found, among other things, that Mr. Fazio did not adequately assess whether Ligand Pharmaceuticals had the ability to reasonably estimate future product returns. Mr. Fazio did not adequately evaluate the reasonableness of Ligand's estimates of future product returns. Mr. Fazio did not adequately address the subsequent discovery of relevant facts existing at the date of the auditor's report. Mr. Fazio did not identify and appropriately address issues concerning Ligand Pharmaceuticals' exclusion of certain types of returns from its estimates of future returns.

The PCAOB Order disclosed that subsequent to the 2003 Ligand audit, Ligand Pharmaceuticals restated its financial statements for the year 2003, recognizing approximately $59 million less in revenues from product sales than originally reported and reporting a net loss more than 2.5 times the net loss originally recognized in that year.

Business and Professions Code, Division 3, Chapter 1, § 5100 (h) and (l).

Related Documents:

Accusation and Decision

Revocation of CPA Certificate, via default decision.

Effective April 21, 2006

Mr. Feldman was convicted on his plea of guilty to grand theft by embezzlement, a felony. Mr. Feldman also was convicted on his plea of guilty to filing a false tax return, a felony.

The circumstances of the first felony conviction are that between January 1, 1999, and August 1, 2001, while Mr. Feldman was a president, manager, and accountant for Lindsey Studios, Inc., he transferred from Lindsey Studios, Inc.'s business checking account to his personal checking account, approximately $380,000 during the period 1999-2001.

Business and Professions Code, Division 3, Chapter 1, § 5100 (a), (c), (g), (i), (j), and (k). California Code of Regulation, Title 16, Division 1, § 65.

Related Documents:

Accusation and Decision

Revocation of CPA and COR licenses, via proposed decision.

Mr. Wasser is required to reimburse the CBA $18,674.82 for its investigation and prosecution costs.

Effective December 24, 2010

Also See:

Wasser, Felix Rodolfo

Accusation No. AC-2009-6 includes charges of fraud, dishonesty, breach of fiduciary duty, embezzlement, theft and misappropriation of funds. The circumstances are that Respondents were engaged by clients B.F. and her corporation BFBO (Clients) as their accountant for over 10 years. Clients entrusted Respondents with authority over their corporation's bank account for purposes of handling business transactions. During a two and one-half year period on or between January 14, 2005, through on or about July 2, 2007, in 45 separate transactions, Respondents breached their fiduciary responsibility by withdrawing approximately $202,250 of Client's funds for their own personal use and benefit without Client's knowledge.

Business and Professions Code, Division 3, Chapter 1, §§ 5100 (c), (i) and (k).

Related Documents:

Accusation and Decision

Revocation stayed with three years' probation, via stipulated settlement.

Mr. Ferguson is required to reimburse the Board $3,000 for its investigation and prosecution costs.

Other standard terms and conditions.

Effective October 26, 2008

Mr. Ferguson admits the charges in Accusation No. AC-2008-7 which contains the following allegations:

Mr. Ferguson consented to suspension from practice before the IRS for an indefinite period commencing May 1, 2007, with the right to petition for reinstatement after 18 months. Mr. Ferguson's suspension by the IRS resulted from the following actions: Mr. Ferguson failed to timely file his Federal Individual Income Tax Returns for the tax years 2001 through 2004 and was delinquent in satisfying a Federal tax obligation in an amount exceeding $8,600. Mr. Ferguson also failed to timely file his Employer's Quarterly Federal Tax Return for his accounting firm for the period ending September 2005. Mr. Ferguson also had a pattern of untimely payments resulting in tax penalties for failure to deposit and pay taxes for various quarters from December 2001 through June 2005.

Business and Professions Code, Division 3, Chapter 1, § 5100 (h).

Related Documents:

Accusation and Decision

Surrendered certificate, via stipulated settlement.

Mr. Fiedelman is required to reimburse the Board $5,143 for its investigation and prosecution costs.

Effective April 22, 2005

Amended Accusation No. AC-2004-32 includes a charge that the SEC, in an administration proceeding alleged that Mr. Fiedelman engaged in improper professional conduct in connection with Deloitte and Touche's audit of The North Face, Inc. for the year ended December 31, 1997, and Deloitte's review of The North Face, Inc.'s 10-Q filing for the quarter ended March 31, 1998.

As a result of the above, Mr. Fiedelman was suspended from appearing or practicing as an accountant before the SEC.

Amended Accusation No. AC-2004-32 includes an additional charge that Mr. Fiedelman did not report to the California Board of Accountancy that the SEC informed Mr. Fiedelman of his opportunity to make a "Wells submission."

Solely for purposes of settlement, Mr. Fiedelman understands that at a hearing, a factual basis for the charges in the Accusation could be established and that those charges, if proven, would constitute cause for discipline of his CPA license. Mr. Fiedelman does not admit the charges. However, he understands that in the unlikely event that he should reapply for licensure, the charges are deemed admitted.

Business and Professions Code, Division 3, Chapter 1, §§ 5063, and 5100 (g), (h) and (l).

Related Documents:

Accusation and Decision

License revoked by default decision.

Effective August 6, 1995

On or about October 7, 1992, in Municipal Court in Los Angeles County, Respondent was convicted of one count of grand theft by embezzlement of $69,400.00, a felony.

Business and Professions Code, Division 3, Chapter 1, § 5100(a).

Related Documents:

Accusation and Decision

Revocation of CPA Certificate, via default decision.

Effective February 24, 2006

Mr. Fiore pleaded guilty to one felony count of attempting to evade or defeat tax for calendar year 1999. For calendar year 1999, Mr. Fiore understated the business receipts from his law practice in the amount of $473,978 and also failed to report payments from his law partner for the partial sale of his law practice. This understatement resulted in Mr. Fiore reporting federal taxable income of $214,828, rather than the correct federal taxable income of $737,422, and he paid federal income tax of $65,184, rather than the correct federal income tax of $279,604.

Mr. Fiore eventually paid restitution of $626,623, which represented the total amount of federal income taxes alleged to have been evaded for the years 1996, 1997, 1998, and 1999.

Business and Professions Code, Division 3, Chapter 1, § 5100 (a), (i), and (j).

Related Documents:

Accusation and Decision

Revocation of CPA Certificate, via default decision.

Effective May 2, 1997

Respondent had been appointed by the Tehama County Superior Court to be the trustee of a trust bank account. In her capacity as trustee, she absconded with money from the trust bank account. Respondent was subsequently convicted of grand theft of personal property, a felony.

Respondent's license expired on February 1, 1994; however, she continued to hold out as a CPA. On June 28, 1995, Respondent represented to an undercover operator that she was a licensed CPA.

Business and Professions Code, Division 1, Chapter 1, §118(b), Division 3, Chapter 1, §§ 5050, 5055, 5100, 5100(c), (h), and (j). California Code of Regulations, Title 16, Division 1, §§ 3, 99, 99(a), and (c).

Related Documents:

Accusation and Decision

Revocation stayed, with three years' probation, via stipulated settlement.

Mr. Fisher and Fisher & Bagley shall at all times maintain active license status with the Board.

Mr. Fisher shall complete 24 hours of continuing professional education courses (CPE) in audit-related subjects, at least eight hours of which shall include instruction on audits of employee benefit plans. The CPE shall be in addition to the 80 hours required for license renewal.

Prior to release of any audit by Mr. Fisher or Fisher & Bagley, all work papers and audited financial statement for or pertaining to any such audit must be reviewed and approved by an independent certified public accountant approved by the Board or its representatives.

Mr. Fisher and Fisher & Bagley are jointly required to reimburse the Board $6,357 for its investigation and prosecution costs.

Effective October 20, 2006

Also See:

Fisher & Bagley

Baka, John Edward

For purposes of settlement, Mr. Fisher admits he was the engagement partner for Fisher & Bagley and participated in the audit of the IES-ESOP for the year ended March 31, 2002, supervising the work of John Edward Baka.

For purposes of settlement, both Mr. Fisher and Fisher & Bagley admit the working paper documentation of the tests performed in support of the audit of the IES-ESOP for the year ended March 31, 2002, was characterized by extreme departures from applicable professional standards, constituting gross negligence and/or repeated acts of negligence.

Business and Professions Code, Division 3, Chapter 1, § 5100 (c).

Related Documents:

Accusation and Decision

Revocation stayed, with three years' probation, via stipulated settlement.

Mr. Fisher and Fisher & Bagley shall at all times maintain active license status with the Board.

Mr. Fisher shall complete 24 hours of continuing professional education courses (CPE) in audit-related subjects, at least eight hours of which shall include instruction on audits of employee benefit plans. The CPE shall be in addition to the 80 hours required for license renewal.

Prior to release of any audit by Mr. Fisher or Fisher & Bagley, all work papers and audited financial statement for or pertaining to any such audit must be reviewed and approved by an independent certified public accountant approved by the Board or its representatives.

Mr. Fisher and Fisher & Bagley are jointly required to reimburse the Board $6,357 for its investigation and prosecution costs.

Also See:

Baka, John Edward

Fisher, George Alan

For purposes of settlement, Mr. Fisher admits he was the engagement partner for Fisher & Bagley and participated in the audit of the IES-ESOP for the year ended March 31, 2002, supervising the work of John Edward Baka.

For purposes of settlement, both Mr. Fisher and Fisher & Bagley admit the working paper documentation of the tests performed in support of the audit of the IES-ESOP for the year ended March 31, 2002, was characterized by extreme departures from applicable professional standards, constituting gross negligence and/or repeated acts of negligence.

Business and Professions Code, Division 3, Chapter 1, § 5100 (c).

Related Documents:

Accusation and Decision

Revocation stayed with three years' probation, via stipulated settlement.

Ms. Fitzpatrick's license is suspended for 45 days.

Ms. Fitzpatrick shall maintain an active license status.

Ms. Fitzpatrick shall take and pass with a score of 90 percent or better a Board-approved ethics exam.

Ms. Fitzpatrick shall comply with the Board's procedures regarding notification to clients of suspension from practice.

Ms. Fitzpatrick is required to reimburse the Board $4,931.75 for its investigation and prosecution costs.

Other standard terms and conditions.

Effective June 16, 2008

Also See:

Fitzpatrick Professional Accountancy, LLP

Ms. Fitzpatrick admits that on or about November 14, 2005, she was suspended from practice before the Internal Revenue Service (IRS) for a period of 48 months. Ms. Fitzpatrick admits that she failed to notify the Board of her suspension from practice before the IRS.

Also, as a partner of Fitzpatrick Professional Accountancy, LLP, Ms. Fitzpatrick admits that her suspension from practice before the IRS subjects the partnership's certificate to discipline.

Business and Professions Code, Division 3, Chapter 1, §§ 5063, 5100 (h) and 5101.

Related Documents:

Accusation and Decision

Revocation stayed with three years' probation, via stipulated settlement.

Ms. Fitzpatrick's license is suspended for 45 days.

Ms. Fitzpatrick shall maintain an active license status.

Ms. Fitzpatrick shall take and pass with a score of 90 percent or better a Board-approved ethics exam.

Ms. Fitzpatrick shall comply with the Board's procedures regarding notification to clients of suspension from practice.

Ms. Fitzpatrick is required to reimburse the Board $4,931.75 for its investigation and prosecution costs.

Other standard terms and conditions.

Effective June 16, 2008

Also See:

Fitzpatrick, Pamela Anne

Ms. Fitzpatrick admits that on or about November 14, 2005, she was suspended from practice before the Internal Revenue Service (IRS) for a period of 48 months. Ms. Fitzpatrick admits that she failed to notify the Board of her suspension from practice before the IRS.

Also, as a partner of Fitzpatrick Professional Accountancy, LLP, Ms. Fitzpatrick admits that her suspension from practice before the IRS subjects the partnership's certificate to discipline.

Business and Professions Code, Division 3, Chapter 1, §§ 5063, 5100 (h) and 5101.

Related Documents:

Accusation and Decision

Revocation stayed with three years’ probation, via stipulated settlement.

Mr. Frantz's license is suspended for 120 days.

Mr. Frantz shall complete 24 hours of continuing education in addition to the 80 hours required for renewal.

Mr. Frantz shall complete four hours of ethics continuing education.

Mr. Frantz shall reimburse the CBA in the amount of $4,000 for its investigation and prosecution costs.

Mr. Frantz shall maintain an active license.

Other standard terms of probation.

Effective March 3, 2013

Accusation No. AC-2012-43 contains the following allegations:

On or about September 6, 2011, Mr. Frantz was convicted by his plea of guilty to a charge of violating Title 26 United States Code section 7206(2), Aiding and Assisting in the Preparation of False Income Tax Returns, a felony, in a case captioned United States of America v Mark A. Frantz, Case No. 1:10-cr-00228 in the United States District Court for the Eastern District of California. Mr. Frantz was sentenced to serve 36 months probation and pay a $3,000 fine and $100 assessment. As part of probation, Mr. Frantz was ordered to serve 365 days of home confinement.

The circumstances underlying the conviction are that in or about April 2004 Mr. Frantz willfully aided in the preparation of several U.S. Individual Income Tax Returns for calendar year 2003 that were false and fraudulent as to material matters. The returns represented that the taxpayers were entitled to claim deductions that Mr. Frantz knew the taxpayers were not entitled to claim. The false deductions amounted to $37,297 in additional tax owed by the taxpayers.

Business and Professions Code, Division 1.5, Chapter 3, § 490; Division 3, Chapter 1, §§ 5100 (a) and (j).

Related Documents:

Accusation and Decision

Revocation of CPA Certificate, via default decision.

Effective March 8, 1998

Reinstated March 31, 2000

On or about April 3, 1996, a citation was issued to Respondent. Respondent failed to comply with the citation. As a result, Respondent's certificate was subject to discipline for unprofessional conduct.

Business and Professions Code § 5100(f). California Code of Regulations, Title 16, Division 1, § 95.4.

Related Documents:

Accusation and Decision

Revocation stayed with five years' probation, via stipulated settlement.

Mr. Freeman shall maintain an active license status.

Mr. Freeman shall undergo and continue treatment by a licensed psychotherapist approved by the CBA.

Mr. Freeman shall reimburse the CBA in the amount of $10,219.67 for its investigation and prosecution costs.

Other standard terms of probation.

Effective June 28, 2012

Accusation No. AC 2011-13 alleges the following: Mr. Freeman is subject to disciplinary action in that Mr. Freeman has been convicted of crimes substantially related to the qualifications, functions, or duties of a certified public accountant and for unprofessional conduct.

On or about August 12, 2010, after pleading nolo contendere, Mr. Freeman was convicted of one felony count of violating Penal Code Section 311.11(a) [possession of matter depicting minor engaging in sexual conduct] and one misdemeanor count of violating Penal Code Section 314.1 [indecent exposure].

Mr. Freeman was sentenced to 364 days in custody starting October 1, 2010, ordered to attend a 52-week Sex Offender Program, register as a sex offender pursuant to Penal Code 290.3 and placed on formal probation for a period of five (5) years with certain terms and conditions.

Business and Professions Code, Division 1.5, Chapter 3, § 490; Division 3, Chapter 1, §§ 5100 and 5100(a). California Code of Regulations, Title 16, Division 1, § 99.

Related Documents:

Accusation and Decision

Revocation stayed, with three years' probation, via stipulated settlement.

Mr. Frick shall take and pass with a score of 90 percent or better a Board approved ethics course.

Mr. Frick is required to reimburse the Board $15,000 for its investigation and prosecution costs.

Other standard terms of probation.

Effective April 21, 2006

Mr. Frick admits the following matters in Accusation AC-2004-37. Mr. Frick, a partner at Ernst and Young LLP (EY), was the engagement partner during EY's audits of the financial statements of PeopleSoft, Inc. Mr. Frick was responsible for signing EY's audit reports and issuing the auditor's opinions (which were unqualified) on PeopleSoft's financial statements for the year ended December 31, 1995, through the year ended December 31, 1999. Mr. Frick also was EY's coordinating partner for PeopleSoft, from the fall of 1995 until June 2000.

Mr. Frick further admits that the following matters charged, if proven at hearing, constitute violations of the Accountancy Act as charged and provide the basis for the Board's discipline of his license. The Securities and Exchange Commission (SEC) found that Ernst and Young LLP was not independent in fact and appearance when it audited PeopleSoft's financial statement for FY's 1994 through 1999, because EY's business relationships with PeopleSoft and actions by EY's Consulting Group created an impermissible identify or mutality of interests. The SEC found that Mr. Frick's conclusions regarding EY's independence were contradicted by evidence known by, or available to, Mr. Frick during the course of his audit procedures.

Accusation No. AC-2004-37 alleged that Mr. Frick's lack of appropriate consideration and resolution of the independence issue in the PeopleSoft audits constituted violations of the Board's regulations requiring independence and compliance with professional standards. Mr. Frick issued, or caused to be issued, reports in the EY audits that failed to conform to professional standards.

Business and Professions Code, Division 3, Chapter 1, §§ 5062 and 5100 (g). California Code of Regulations, Title 16, Division 1, §§ 58 and 65.

Related Documents:

Accusation and Decision

Revocation of CPA license, via default decision.

Effective March 3, 2012

Accusation No. AC-2011-10 contains the following allegations:

On or about December 4, 2009, after pleading guilty with admissions to enhancements of Penal Code section 186.11(a)(2) [aggravated white collar crime - over $500,000], Mr. Frlekin was convicted of 152 felony counts, one count violating Penal Code sections 487(a)/508 [embezzlement by employee], 48 separate counts violating Penal Code section 502(c)(1) [computer access and fraud] and 103 separate counts violating Penal Code section 186.10(a) [money laundering] in the criminal proceeding entitled The People of the State of California v. Stephen Anthony Frlekin (Super. Ct. Orange County, 2009, No. 09ZF0075FA). The Court sentenced Mr. Frlekin to 12 years in prison, and ordered him to pay $2,663,600 in restitution.

The circumstances underlying the conviction are that on or about December 1, 2007, through on or about June 25, 2008, Mr. Frlekin embezzled large sums of money from his employer, Veterinary Pet Insurance Company (VPI), by making monetary wire-transfers of VPI funds to various international bank accounts.

Mr. Frlekin failed to report his conviction to the CBA within 30 days as required.

Business and Professions Code, Division 1.5, Chapter 3, § 490; Division 3, Chapter 1, §§ 5100 (a), (i), (k), (g) and 5063.

Related Documents:

Accusation and Decision