Dublin-based chartered accountant Mr Romize Aboud has had his licence to practice withdrawn and has been ordered to pay €12,700 in fines and €26,000 in legal and related costs to the Institute of Chartered Accountants in Ireland.

Mr Aboud, (66), offered no defence yesterday to a list of 13 complaints brought against him by the institute's Complaints Committee at a public hearing of the ICAI's disciplinary tribunal in Dublin.

While yesterday's ruling saw Mr Aboud's practising certificate withdrawn his membership of the ICAI was left intact which means he is not precluded from applying to renew his practice at a later date.

Among the complaints levelled against him were that he wilfully made a false statement in relation to returns and balance sheets of an unnamed company and that he allowed audit reports to be attached to abridged financial statements of the same firm without the knowledge or consent of the group.

He also provided investment advice and investment business services through a company controlled by him, Lambert Insurances, at a time when neither he nor the company was authorised to do so.

Other complaints included having no professional indemnity cover, as required by the institute's rules.

He also attached audit reports to the statutory financial statements of an unnamed company when no such financial statements existed.

Over an eight-year period from 1990 to 1998, he allowed abridged financial statements for an unnamed company to be submitted to the Companies Registration Office when he knew, or ought to have known, that those statements "were misleading in that they did not reflect fairly the assets and liabilities of the company".

He also failed to conduct his practice efficiently and competently in failing to keep adequate records of fees charged by him for services provided and also cash received in respect of those services.

Mr Aboud's membership of the ICAI was withdrawn in 1979 for failure to meet adjudgement debt which contravened the institute's rules.

He had been practicing for 20 years at the time.

He remained outside of the institute for 19 years until 1998 when he reapplied for membership.

His right to practice was granted the following year but was subject to a variety of conditions laid down by the Quality Assurance Department of the institute.

However almost immediately he ran into difficulties with the ICAI.

The first complaint levelled against Mr Aboud at yesterday's hearing was that he had failed to submit his continual professional development record with the ICAI for the 12-month period ended December 31st, 1999 and also for the six-month period ended June 30th, 2000 within the timescale required.

At yesterday's hearing Mr Paul Gardiner SC, for Mr Aboud, told the ICAI's three-man disciplinary tribunal that his client had no defence in respect of the complaints brought against him.

"He accepts that they reflect very poorly upon him," Mr Gardiner said.

The tribunal heard Mr Aboud was a sole practitioner and that he was sometimes helped by his wife and daughter.

Mr Gardiner argued his clients's ability to earn an income would be severely impacted if he were banned from carrying on in practice and that that combined with any fine imposed would have a serious impact on him.

Mr Aboud has five children, one of whom is still of school-going age, and another going to college.

However, the tribunal chairman, Mr Brian Garrett, said the complaints could not be viewed lightly.

"It is self-evident we are dealing with a serious matter... that is not changed by the fact that someone was in practice on his own, with nobody to lean on," Mr Garrett said.

After a brief adjournment to consider the case, Mr Garrett said the three-man tribunal had unanimously agreed Mr Aboud's certificate to practice should be withdrawn.

He also said the tribunal had decided to impose the maximum fine of €12,700.

Mr Aboud was also ordered to pay €21,000 in professional and legal costs incurred by the institute and a further €5,000 to partly cover the cost of 30 days of executive time spent by institute staff in preparing the case against him.

Mr Aboud has 21 days to appeal.