Disciplinary actions.

As a result of an investigation of alleged violations of the Codes of Professional Conduct of the AICPA and/or state CPA societies, the following ethics case has been resolved by settlement agreement under the Joint Ethics Enforcement Program:

* Frank O. Walker of Bay City, Texas, expelled from membership in the AICPA and the Texas Society of CPAs, effective July 17, 2002.

As a result of a decision by a hearing panel of the Joint Trial Board, the following member has had his AICPA membership:

--Suspended for two years:

* Irwin P. Israel of Huntingdon Valley, Pa., effective July 18, 2002.

Under the automatic disciplinary provisions of the Institute's bylaws, the following members have had their AICPA memberships:

--Terminated because of a final judgment of conviction for a crime punishable by imprisonment for more than one year:

* Stephen J. Caraccia of New York, effective July 24, 2002.

--Terminated following revocation of his CPA certificate to practice by his state board of accountancy:

* Michael L. Gargiulo of Babylon, N.Y., effective July 24, 2002.

Details on these disciplinary actions can be accessed through:

* www.aicpa.org/pubs/cpaltr/index.htm

Firms Terminated from Peer Review Program

Effective June 24, 2002, these firms were terminated from the AICPA peer review program for failure to cooperate with the AICPA Peer Review Board. Heating panels deemed that the following firm(s):

* Did not complete the corrective or monitoring actions required as a condition of acceptance of the firms'...

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