Texas State Board Report, Volume 47, April 1993 Page: 4
8 p.View a full description of this periodical.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
1 ___2 3 4 F 5 6
Board actions
continued from page 3
sponses) of the Rules. In addition, he is
required to pay the Board $300 in admin-
istrative costs prior to applying for rein-
statement of his certificate. The respon-
dent failed to complete tax returns; failed
to respond to Board communications;
divulged confidential client information;
and was convicted in state and federal
courts for criminal acts related to securi-
ties fraud and forgery.
Complaint No.: 91-07-24L
Respondent: Mark Keys
Date of Board Ratification: 1/28/93
Disposition: The respondent agreed
to a reprimand for violations of Section
21(c)(4) of the Act and Section 501.32
(Records) of the Rules. The respon-
dent withheld client records.
Complaint No.: 91-10-38L
Respondent: Charles Lowe Packer
Date of Board Ratification: 1/28/93
Disposition: The respondent agreed
to a reprimand for violations of Sections
8, 15A, and 21(c)(4) of the Act and
Sections 501.25 (Mandatory Continu-
ing Education), 501.46 (Form of Prac-
tice), 501.47 (Firm Names), and 501.48
(Responses) of the Rules. The respon-
dent engaged in the following activi-
ties: (1) failed to respond to Board com-
munications within thirty days as re-
quired; (2) practiced public accounting
through an entity not registered with the
Board and; (3) failed to comply with
continuing professional education re-
quirements for the 1991 through 1993
reporting periods.
Complaint No.: 92-07-14L
Respondent: G.K. Pillai
Date of Board Ratification: 3/11/93
Disposition: The respondent agreed to a
reprimand based on violation of Section
10(a)(3) of the Act. He advertised that he
had two offices open, one of which was
not a registered practice unit.
Complaint No.: 92-08-04L
Respondent: Sam Scott Ragsdale
Date of Board Ratification: 3/11/93
Disposition: The respondent agreed
to a reprimand, to refrain from perform-
ing audits or reviews and to take an
additional sixteen hours of continuing
professional education relating to com-
pilations. The respondent failed to fol-
low industry standards in preparing au-
dited financial statements in violation
of Section 21(c)(4) of the Act and Sec-tions 501.21 (Competence), 501.22
(Auditing Standards), 501.23 (Account-
ing Principles), and 501.24 (Other Pro-
fessional Standards) of the Rules.
Complaint No.: 90-08-22L
Respondent: Paul Wayne Reynolds
Date of Board Ratification: 1/28/93
Disposition: The respondent agreed
to athree-year limitation on his practice
of public accountancy and an assess-
ment of $2,500 in administrative costs
for violating Section 501.21 (Compe-
tence) of the Rules. The matter was
referred to the Board by the Texas Dept
of Insurance. The respondentprepared
and issued financial statements which
were not prepared in accordance with
GAAP and GAAS.
Complaint No.: 92-03-51 L
Respondent: William Robert Selph Jr.
Complaint No.: 92-03-52L
Respondent: Joe B. Friday Jr.
Complaint No.: 92-03-53L
Respondent: Selph & Friday
Date of Board Ratification: 1/28/93
Disposition: The respondents agreed to
a reprimand based upon their violations
of Section 21(c)(4) of the Act and Sec-
tions 501.40 (Licensing/Registration Re-
quirements), 501.42 (Acting through Oth-
ers), 501.43 (Advertising), and 501.44
(Soliciting) of the Rules. The respon-
dents practiced pubic accounting through
a non-registered entity, engaged in
uninvited solicitations and in misleading
advertising, all in an effort to convince
retailers to become fast tax refund out-
lets on the firm's behalf.
Complaint No.: 92-01-04L
Respondent: Elwin M. Shaw
Date of Board Ratification: 3/11/93
Disposition: The respondent agreed
to voluntarily surrender his certificate if
he does not notify the Board, within 120
days, that he registered his practice
unit, paid all past-due license fees and
penalties, and completed 100 hours of
continuing professional education. The
respondent practiced public account-
ing without a license, which had not
been issued due to his failure to accrue
and/or report sufficient continuing pro-
fessional education hours and his fail-
ure to pay 1992 license fees. Further,
the respondent practiced through an
unregistered entity. These actions were
in violation of Sections 8, 10, 15A,
21(c)(4), and 21(c)(11) of the Act and
Sections 501.40 (Licensing/Registra-
tion Requirements), 501.46 (Form ofPractice), and 501.47 (Firm Names) of
the Rules.
Complaint No.: 92-05-28L
Respondent: Rodney F. Sparks
Date of Board Ratification: 1/28/93
Disposition: The respondent agreed
to a revocation of his certificate and to
pay $300 in administrative costs based
upon violations of Sections 21(c)(2),
21(c)(4), 21(c)(8), and 21(c)(11) of the
Act and Sections 501.21 (Compe-
tence), 501.22 (Auditing Standards),
501.23 (Accounting Principles), 501.24
(Other Professional Standards), and
501.41 (Discreditable Acts) of the
Rules. The respondent knowingly and
intentionally committed fraud while
practicing before the Securities and
Exchange Commission.
Complaint No.: 90-10-28L
Respondent: Frank 0. Walker
Date of Board Ratification: 3/11/93
Disposition: The respondent agreed
to a prohibition on audits and reviews
based upon violations of Section
21(c)(4) of the Act and ections 501.21
(Competence), 501.22 (Auditing Stan-
dards), 501.23 (Accounting Principles),
and 501.24 (Other Professional Stan-
dards) of the Rules. The respondent
failed to comply with industry stan-
dards in preparing financial state-
ments.
Complaint No.: 92-07-03L
Respondent: Thomas W. Welch
Date of Board Ratification: 3/11/93
Disposition: The respondent agreed
to a reprimand based on violations of
Section 21(c)(4) of the Act and Sec-
tions 501.40 (Licensing/Registration
Requirements), 501.43 (Advertising),
and 501.44 (Soliciting) of the Rules.
The respondent practiced public ac-
counting through a non-registered en-
tity, engaged in uninvited solicitation,
and referred to himself as a "specialist"
in the letter.
Complaint No.: 92-04-07L
Respondent: C. Brent Young
Date of Board Ratification: 1/28/93
Disposition: The respondent agreed
to surrender certificate based upon
violations of Sections 21(c)(2) and
21(c)(4) of the Actand Sections 501.21
(Competence), 501.23 (Accounting
Principles), and 501.24 (Other Profes-
sional Standards) of the Rules. The
respondent failed to follow industry
standards in preparing a compilation
of a balance sheet.4
I
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas State Board of Public Accountancy. Texas State Board Report, Volume 47, April 1993, periodical, April 1993; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1032233/m1/4/: accessed July 8, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.