The grand scheme of things
Read Time: 6 mins
Written By:
Felicia Riney, D.B.A.
ACFE News
Board of Regents orders disciplinary actions on two members
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Date:
May 1, 2013
Read Time: 2 mins
On Nov. 28, 2012, the ACFE Board of Regents, in two unrelated cases, permanently expelled Mark Dreaneen of Sydney, Australia, and ordered that Dr. Michael Seda, CFE, of Raleigh, N.C., should be suspended for one year and issued a letter of reprimand.
In Dreaneen’s case, the ACFE’s general counsel’s office received court documents of an underlying criminal case showing he had been convicted of multiple offenses of dishonesty to obtain financial advantage through deception and fraud, which are serious indictable offenses under Australian law.
In Seda’s case, the Board’s decision was predicated on the North Carolina’s State Board of Certified Public Accountant Examiner’s finding that Seda breached its Rules of Professional Ethics and Conduct when he issued an unqualified opinion and audit report while providing a pro bono service for a North Carolina not-for-profit entity, failed to register a CPA firm and failed to register for peer review.
The Board issued Seda a letter of reprimand explaining that CFEs are expected to always demonstrate a commitment to professionalism and diligence in the performance of any assignment, whether paid or unpaid.
The Association of Certified Fraud Examiners assumes sole copyright of any article published on www.Fraud-Magazine.com or www.ACFE.com. ACFE follows a policy of exclusive publication. Permission of the publisher is required before an article can be copied or reproduced. Requests for reprinting an article in any form must be emailed to FraudMagazine@ACFE.com.
In Dreaneen’s case, the ACFE’s general counsel’s office received court documents of an underlying criminal case showing he had been convicted of multiple offenses of dishonesty to obtain financial advantage through deception and fraud, which are serious indictable offenses under Australian law.
In Seda’s case, the Board’s decision was predicated on the North Carolina’s State Board of Certified Public Accountant Examiner’s finding that Seda breached its Rules of Professional Ethics and Conduct when he issued an unqualified opinion and audit report while providing a pro bono service for a North Carolina not-for-profit entity, failed to register a CPA firm and failed to register for peer review.
The Board issued Seda a letter of reprimand explaining that CFEs are expected to always demonstrate a commitment to professionalism and diligence in the performance of any assignment, whether paid or unpaid.
The Association of Certified Fraud Examiners assumes sole copyright of any article published on www.Fraud-Magazine.com or www.ACFE.com. ACFE follows a policy of exclusive publication. Permission of the publisher is required before an article can be copied or reproduced. Requests for reprinting an article in any form must be emailed to FraudMagazine@ACFE.com.
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