Albert Chen

Member's name: Mr Albert Chen
Date of Hearing: 10 November 2020
Division: New South Wales
Tribunal: Disciplinary Tribunal

On 10 November 2020 the Disciplinary Tribunal found that Mr Albert Chen breached:

Complaint 1:

Article 39(a)(ii)(A) of the 22 May 2018 Constitution, in that he “breached this Constitution (or the constitution of the Company in force immediately before the Amending Date), By-Laws, Code of Professional Conduct or the Applicable Regulations” in that he breached By-Law 9.8(e) of the 1 April 2019 By-Laws which provides:

• "A Member required by By-Law 9.8(a) to hold a current policy of professional indemnity insurance must provide to CPA Australia:
  1. An original certificate of currency of such policy of insurance or such other evidentiary document approved by the Board, within 10 Business Days of issue, renewal or replacement of such policy…”

by failing to provide his certificate of insurance for professional indemnity insurance by 1 May 2019 or otherwise within 10 business days of the issue, renewal or replacement of such policy.

Complaint 2:

Article 39(a)(ii)(A) of the 14 May 2019 Constitution, in that he “breached this Constitution (or the constitution of the Company in force immediately before the Amending Date), By-Laws, Code of Professional Conduct or the Applicable Regulations” in that he breached By-Law 5.2(a)(ii) of the 9 December 2019 By-Laws which provides:

1. "As soon as reasonably expedient after allocation of a Complaint to him or her, the PCO must:…
   2. require the Member to provide a satisfactory explanation with respect to the matters referred to in the Complaint. If a Member fails to provide a satisfactory explanation in writing with respect to the matters referred to in the Complaint within 10 Business Days (or such further period as agreed with the PCO) of receipt of a request by the PCO, the GMPC may proceed to make an assessment under By-Law 5.3 on the material before him or her without further communication with the Member and the Member will be in breach of By-Law 5.2(a), which breach must be dealt with concurrently with the Complaint”.

Mr Chen did not attend the Disciplinary Tribunal Hearing; a denial of the complaint was entered on his behalf.

Penalty and costs

The Disciplinary Tribunal found the Complaint sustained and imposed the following penalties:

Complaint 1:

• forfeiture of membership.

Complaint 2:

• a fine of $2000.

Prior to any application for readmission to membership the Member must:

• if he is offering Public Accounting Services, provide evidence of a Certificate of Currency for his Professional Indemnity Insurance
• pay CPA Australia his fine and costs.

Mr Chen was ordered to pay CPA Australia's costs of $2771.40.