As a result of an investigation of an alleged violation of the AICPA code of professional conduct, Richard B. Davis entered into a settlement agreement under the Joint Ethics Enforcement Program effective August 9, 2017.
Information came to the attention of the Ethics Charging Authority (“ECA”) (comprised of the AICPA Ethics Executive Committee) alleging a potential disciplinary matter with respect to Mr. Davis’s professional conduct regarding his application to surrender his CPA license in connection with his guilty plea to a crime under Federal Law (Knowingly and Willfully Falsifying Material Facts to Obtain Penalty Abatements). After an investigation, Mr. Davis was charged with violating the following rule of the AICPA code of professional conduct:
Rule 501- Acts Discreditable (now 1.400.001) for making false statements to obtain tax penalty abatements for his clients and himself totaling approximately $61,292 for the period 2000 through 2006.
In consideration of the ECA forgoing further investigation of Mr. Davis’s conduct as described above and in consideration of the ECA forgoing any further proceedings in the matter, Mr. Davis agrees as follows:
a. To waive his rights to an investigation of this matter in accordance with the Joint Ethics Enforcement Program (JEEP) Manual of Procedures and to a hearing under AICPA bylaws section 7.4.
b. To comply immediately with professional standards applicable to the professional services he performs.
c. To be admonished by the AICPA.
d. That the ECA shall publish his name, the charges, and the terms of this settlement agreement.