Vincent John Cobiac CPA

Member’s name: Vincent John Cobiac CPA
Date of Hearing: 3 and 15 February 2021
Division: South Australia
Tribunal: Disciplinary Tribunal

In proceedings conducted over two days, 3 and 15 February 2020; the Disciplinary Tribunal found that Mr Vincent Cobiac breached the 18 April 2014 Constitution:

Complaint 1

a) Article 39(a)(ii)(A), in that he failed to comply with the fundamental principle of Professional Competence and Due Care in preparing and lodging BAS statements for the client

b) Article 39(a)(ii)(A), in that he breached Section 388-65(5) and Section 388-70 of the Tax Administration Act 1953 in failing to properly supervise and train an employee under his supervision in the preparation and lodgement of BAS statements for the client

c) Article 39(a)(ii)(C), in that he failed to observe a proper standard of professional care, skill or competence by breaching the Code of Professional Conduct or the Applicable Regulations in failing to obtain the Client Declaration as to the truth and correctness of each BAS statement lodged and was responsible for the Agent Declaration made to the ATO that the Firm had obtained the Client Declaration for each BAS statement lodged.

Complaints 2 and 3 were not sustained. Mr Cobiac attended the Disciplinary Tribunal Hearing and denied the Complaints, except for Complaint 1(b).

Penalty and costs

The Disciplinary Tribunal found Complaint 1(a), Complaint 1(b) and Complaint 1(c) sustained and imposed the following penalties:

• severe reprimand
• completion of a Quality Review at the next available cycle at the Member's cost and with the Tribunal's preference that the review is undertaken on the Member's premises, as opposed to a desk top review; and
• successful completion of a supervision course to the satisfaction of the General Manager Professional Conduct (GMPC) by 30 June 2022 or a timeframe permitted by the GMPC.

The Member was ordered to pay CPA Australia’s costs of $3,062.55.