Vinay Prakash

Member’s name: Vinay Prakash
Date of Hearing: 29 July 2022
Division: Queensland
Tribunal: Disciplinary Tribunal 

On 29 July 2022, the Disciplinary Tribunal found that Mr Vinay Prakash breached CPA Australia’s 14 May 2019 Constitution:

• Article 39(a)(ii)(C) when he ‘failed to observe a proper standard of professional care, skill or competence” by failing to obtain a trustee’s or public officer’s signed consent to the electronic lodgement of BAS and IAS and failed to obtain a trustee’s or public officer’s declaration as to the information upon which the BAS and IAS were based as being true and correct prior to lodging the BAS and IAS with the Australian Taxation Office.
• Article 39(a)(ii)(C) when he “failed to observe a proper standard of professional care, skill or competence” by failing to obtain accurate information for the completion of BAS and IAS by lodging the BAS and IAS based upon estimates contrary to section 6 of APES 220 Taxation Services.
• Article 39(a)(ii)A by failing to hold a Public Practice Certificate when carrying out Public Accounting Services in accordance with By-Law 9.1

Penalty and Costs:

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

Complaint 1:

• a severe reprimand
• a Fine of $1,000
• the General Manager Professional Conduct (GMPC) of CPA Australia to notify the Tax Practitioners Board (TPB) of the outcome of this tribunal following the expiration of any appeal period or the determination of any unsuccessful appeal

Complaint 2:

• a severe reprimand
• a Fine of $1,000
• the GMPC of CPA Australia to notify the TPB of the outcome of this tribunal following the expiration of any appeal period or the determination of any unsuccessful appeal.

Complaint 3:

• forfeiture of membership for a period of 12 months.

A condition of readmission is to demonstrate that they are eligible to hold a Public Practice Certificate (PPC), or demonstrate to the satisfaction of the GMPC that a PPC is not required.

The Disciplinary Tribunal imposed a contribution to CPA Australia’s costs of $2,450.