Vogt, III, Carlton of Warwick, NY

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Vogt’s AICPA membership was suspended for three years, effective June 7, 2016, 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. Vogt the privilege of appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after three years from the effective date of the SEC’s Order. This decision was based on the SEC’s findings that Mr. Vogt, in his role as the lead engagement partner, failed to comply with the PCAOB rules and standards in auditing a public company’s financial statements that included its accounting for its Alaska acquisition; exercise due professional care and skepticism by not adequately assessing whether the company’s accounting treatment for the acquisition complied with GAAP; and failed to obtain sufficient competent evidential matter for management’s assertions regarding the fair value of the Alaska assets.