The Board has completed the following disciplinary actions during 2011:
Beail, David, Spokane. December 7, 2011.
Violation: During service as a trustee, Beail removed certain funds from the client’s trust. Following the death of another client, Beail was placed in charge of the widow’s brokerage account. Beal utilized assets which remained the property of his client.
Sanctions: Stayed suspension of Beail’s CPA certificate, individual license to practice public accounting and eligibility to register for a CPA firm license for three years. The stay of the suspension is conditioned on Beail’s agreement to permit the Board to have unrestricted access to any and all of Beail’s professional files, papers, and materials; not serve as trustee of any trusts, not provide any professional services that include having or maintain access to client brokerage accounts; pay a $2,500 fine, and reimburse the Board $7,500 for investigative and legal costs.
Stoller, Shawn E. and Stoller and Company, Bellevue. November 19, 2011.
Violation: On July 2, 2009, the Securities Division of the state of Washington Department of Financial Institutions (DFI) issued a Summary Order against Shawn E. Stoller and FA Monitors, an investment adviser company solely owned by Stoller. The Summary Order tentatively found that Stoller engaged in dishonest or unethical practices when he obtained control of funds from his elderly clients for the purposes of making a three-year business investment on their behalf, and instead of making the investment, converted a portion of the funds for his personal use. DFI summarily suspended Stoller’s investment adviser and investment adviser representative registrations. Without admitting or denying the allegation Stoller entered into a Consent Order with DFI on August 4, 2010. Stoller agreed to cease violation of the Securities Act and surrender his investment adviser representative license. On September 30, 2011, Stoller filed a Statement of Defendant on Plea of Guilty in King County Superior Court. Stoller pled guilty to the crime of attempted obtaining a signature by deception or duress.
Sanctions: Stoller’s CPA certificate and individual practice license were revoked. Prior to and as a condition for reinstatement Stoller must: (a) serve at least three years of the revocation; (b) comply with the then existing education, examination, experience, and ethical eligibility requirements; (c) pay a $5,000 fine; and (d) reimburse the Board $2,500 for investigative and legal costs. Stoller may not use the CPA title or hold out for the practice of public accounting as a CPA while under revocation. Stoller must relinquish all ownership in his CPA firm and remove his name from the firm name.
Fisher, Susan of Susan Fisher, PLLC, Friday Harbor. November 17, 2011.
Violation: Failure to respond to inclusion of the firm in the Board’s 2011 Quality Assurance Review (QAR) program.
Sanctions: Stayed suspension of Fisher’s CPA certificate, individual license to practice public accounting and CPA firm license. The stay of the suspension is conditioned on Fisher’s agreement to restrict practice to non-attest services and refrain from issuing audit, review, compilation or other reports prescribed by professional standards on financial statements, payment of a $1,500 fine, and reimbursement of $250 to the Board for investigative and legal costs. The CPA and CPA firm must obtain written permission from the Board before the Board will lift the practice restriction.