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The Director of Corporate Enforcement V Brian Scannell of Brian Scannell & Company

Wednesday

20 May 2015


Details of Accused:
Brian Scannell

Address:
Third Floor, 21 Cook Street, Cork City, Co Cork.

Venue:
Cork District Court, Court 3.

Judge:
District Judge Kelleher.

Alleged Offences:
A total of five charges were before the Court relating to the Accused. .
Four of the five charges related to the Accused having, in purported compliance with Section 193 of the Companies Act, 1990, produced Reports from two duly registered audit firms in respect of two companies for one financial year when the Reports were false in a material particular because they were not made by those firms, nor were they signed on their behalf and that the Accused did so knowing that the Reports were false in a material particular contrary to Section 242(1) of the Companies Act, 1990.
One of the five charges related to the Accused having acted as a Statutory Auditor when not approved to do so 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 five charges, the Court convicted the Accused of all five Charges and imposed fines totalling €8,500, details of which are set out below.
The Court convicted the Defendant on four charges pursuant to Section 242(1) of the Companies Act, 1990 and imposed fines of €1,000 in respect of each of two charges and fines of €2,000 in respect of each of two further charges. The court convicted the Defendant on the charge of 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 and imposed a fine of €2,500. Finally, the Court directed the Accused to pay a sum of €1,250 as a contribution towards the Prosecutor’s cost, such sum to be paid within a period of five months from the date of the Court Order.