Outcome of a Disciplinary Committee regarding allegations against Mr Peter Houlihan

It was found that Mr. P.A. Houlihan, a member of the Institute while a partner in Houlihan Cushnahan & Co. (No longer operating), with an address at 1-4 Adelaide Road, Glasthule, Co. Dublin acted in breach of the Institute's Code of Ethics for Members (2011-2014): Fundament Principles (b) Objectivity, and (c): Professional Competence and Due Care in that he:

1. failed to:
   1. ensure that a business structure which he advised for a client was planned and implemented in an adequate manner so as to achieve its purpose;
   2. provide adequate documentary evidence that he advised the client of:
   1. the documentary and evidential requirements that were required to effectively implement the advice;
   2. the potential costs, risks and tax savings to be expected from the business structure.
2. failed to obtain adequate supporting documentary evidence for the allowability of certain expenses included in the accounts and tax returns
3. included business expenses in a client's tax returns which he ought to have known were not valid expenses for tax purposes

and is therefore liable to disciplinary action in accordance with the Institute's Disciplinary Bye-Laws. The Disciplinary Tribunal ordered:

• €5,000 fine;
•  €7,500 contribution to costs;
•  Severe reprimand

Reference: Karen Jones, Gibney Communications

Ph: 01 6610 402