Prosecution Cases 2015

The Director of Corporate Enforcement V Thomas (otherwise Tom) Colton

Wednesday

22 April 2015


Details of Accused:
Thomas Colton

Address:
20 The Park, St. Wolston’s Abbey, Celbridge, Co Kildare

Venue:
Dublin Metropolitan District Court, Court 8

Judge:
District Judge John O’Neill

Alleged Offences:
Eight alleged offences against the Accused were before the Court arising from him having acted as Auditor to one company and his having produced false audit reports relating to that company.

2 of the 8 alleged offences against the Accused related to his having acted as an Auditor for one company when disqualified from so doing contrary to Section 187(6) and (9) of the Companies Act, 1990.

3 of the 8 alleged offences related to his having, in purported compliance with Section 193 of the Companies Act, 1990, produced a Report from a duly registered audit firm when that Report was false in a material particular because it was not made by that firm, nor was it signed on its behalf and that the Accused did so knowing that the Report was false in a material particular contrary to Section 242(1) of the Companies Act 1990.

Finally, 3 of the 8 alleged offences related to his having acted as a Statutory Auditor when he was not approved to act contrary to Regulation 21 and 23 of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulation 2010: Statutory Instrument No. 220 of 2010.

Outcome:
On a plea of guilty to three charges, the Court convicted the Defendant of two Charges pursuant to Section 242(1) of the Companies Act 1990 and imposed a six-month prison sentence on each suspended for twelve months.

The Charge of acting as a Statutory Auditor, contrary to Regulation 21 and 23 of the European Communities (Statutory Audits) (Directive 2006/43/EC) Regulation 2010: Statutory Instrument No. 220 of 2010 was taken in to account.

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