GAZETTE NOTICE NO. 5110

IT IS notified for general information that with effect from the date of publication of this notice the following two persons Practising Certificates have been suspended for a period of two (2) years by virtue of section 32 (1) (e) of the Act. PROFESSIONAL MISCONDUCT— STEPHEN GUANTAI MARANGU Following an inquiry held on 29th November, 2006 by the Disciplinary Committee of the Insdtute of Certified Public Accountants of Kenya in accordance with section 30 (1) and the 5th Schedule of the Accountants Act, one member of the Institute Stephen Guantai Marangu registration No. 774 of P.O. Box 591 Nanyuki, was found guilty of Professional Misconduct and his Practising Certificate suspended with immediate effect. The Registration of Accountants Board (RAB) during its 291st meeting held on 28th June, 2007 upheld this decision and further directed that the matter be published in the Kenya Gazette. The misconduct in question related to the complaint by the Commissioner of Co-operative Development which alleged that the member was contracted by. Ruiru Farmers Co-operative Society Limited, to undertake accounting work, prepare and submit audited accounts in 2003 for the financial years 1999 up to and including 2004. Mr. Marangu appeared in person at the Institute and confirmed that he had received fees of KSh. 380,000 but had not done the work and had closed down his office in Meru without informing his client. The member was in breach of the following. (a)Section 28(1) (n) he is guilty of gross negligence in the conduct of his professional duties. (b)Section 28(1) (p) he fails to keep funds of a client in a separate banking account or to use those funds for purpoies for which they are intended. (c) Section 28(1) (r) he does or fails to do any other act which may be prescribed. Mr. Marangu was directed to take immediate steps to return his practicing certificate for retention by Registration of Accountants Board within 14 days from 19th July, 2007. Mr. Anduuru was directed to take immediate steps to return his certificate for retention by RAB within 14 days from 18th October 2005. Dated the 23rd May, 2008. T. K. NYAKWEBA, Registrar. Registration of Accountants Board. PROFESSIONAL MISCONDUCT—NICOLAS V. ANDUURU Following an inquiry held on 8th October, 2004 by the Disciplinary Committee of the Institute of Certified Public Accountants of Kenya in accordance with section 30 (1) and the 5th Schedule of the Accountants Act, a member of the Institute Nicolas V. Anduuru registration No. 811 of P.O. Box 58784-00200 Nairobi, operating as Anduuru and Co., was found guilty of Professional Misconduct and his Practising Certificate suspended in accordance with section 31(1)(e) of the Act with immediate effect for a minimum period of two (2) years. The Registration of Accountants Board (RAB) during its 263rd meeting held on 18th November, 2004 upheld this decision and further directed that the matter be published in the Kenya Gazette. The misconduct in question related to a complaint made by Esther Aduma of the Advocates Complaints Commission on behalf of Serah M. Mbondo, a client of the Partnership: Ali & Mugambi Advocates by a letter dated 15th October 2003. The complaint indicated that Mr. Anduuru was appointfd by the Court in HCCC No. 2659/63 as receiver to prepare a statement of accounts with regard to the Partnership (Ali & Mugambi Advocates). The account were to facilitate dissolution of the partnership and subsequent settlement of claims by clients. Mr. Anduuru is alleged to have refused and for neglected to prepare the accounts and hence the firm has not been dissolved and as a result clients money has not been remitted. In accordance with the provision of section 28 (1) (n) of the Accountants Act and statement 5 of the Guide to Professional Ethics relating to professional conduct, Mr. Anduuru was found guilty of professional misconduct.