Eric Ip

Member’s name: Eric Ip
Date of Hearing: 7 July 2022
Division: New South Wales
Tribunal: Disciplinary Tribunal

On 7 July 2022, the Disciplinary Tribunal found that Mr Ip breached CPA Australia’s 14 May 2019 Constitution:

1. Article 39(a)(ii)F when he was “the subject of an adverse finding that has not been overturned on appeal in relation to the        Member's conduct, competence or recognition by any Court, professional body, statutory or other regulatory authority in any jurisdiction" in respect to a decision of the Tax Practitioners Board dated 9 December 2021.

2. Article 39(a)(ii)A, by breaching:

• By-Law 9.8(a) of the By-Laws as at 29 May 2020, 5 October 2021 and 6 December 2021 by failing to hold a current enforceable policy of professional indemnity insurance which complies with By-Law 9.8(c) at a time when he held a Public Practice Certificate; and
• By-Law 9.8(e) of the By-Laws as at 29 May 2020, 5 October 2021 and 6 December 2021, by failing to provide to CPA Australia an original certificate of currency of the policy of insurance required under By-Law 9.8(a).

Mr Ip attended the Disciplinary Tribunal and admitted the Complaints.

Penalty and Costs:

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

Complaint 1:

• forfeiture of membership for a period of 3 years effective from 10 February 2022.

Complaint 2:

• if readmitted, Mr Ip’s CPA Australia membership status to be reduced from FCPA to CPA.

The Disciplinary Tribunal also imposed the following conditions prior to readmission:

• should Mr Ip wish to engage in public practice, he must provide evidence to the General Manager Professional Conduct (GMPC) that he has current professional indemnity insurance.
• Mr Ip must successfully complete a course in Trust Accounts approved by the GMPC.

The Disciplinary Tribunal imposed a contribution to CPA Australia’s costs of $2,458.