Consolo, Domenick of Yorktown Heights, NY

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Consolo’s AICPA membership was terminated, effective February 13, 2017, in connection with the disciplinary action taken by the Securities and Exchange Commission (SEC). Specifically, through an “Offer of Settlement”, and without admitting or denying the charges, the SEC denied Mr. Consolo the privilege of appearing or practicing before the Commission as an accountant. This decision was based on the SEC’s findings that Mr. Consolo, audit partner, issued audit reports for fiscal years ended December 31, 2009 through December 31, 2014, stating that an incorporated municipality and a local development corporation’s financial statements were presented fairly, in all material respects, in conformity with GAAP and that the audits were performed in accordance with GAAS. These statements were false in that the financial statements were not fairly presented in all material respects in accordance with GAAP and the audits were not performed in accordance with GAAS.