Anthony Marx, The Courier-Mail March 21, 2019 8:09pm Subscriber only
NAME AND SHAME
Queensland’s building industry watchdog is using the old name-and-shame tactic in a bid to clean up questionable practices in the rather troubled sector.
Regulators at the Queensland Building and Construction Commission have started posting the names of bean counters they consider “not to be an accepted independent accountant” ahead of new minimum financial requirements coming into effect next month.
Two gents have made the list so far, David Richardson of GJ Walsh & Co at Ipswich and Steven Reibelt, who operates Redstar Accountants in Brisbane.
It’s alleged that Richardson signed off on a misleading report in mid-January attesting to the financial health of an entity trading as GJ Gardner Homes in Ipswich. Just eight days later the company crashed in to liquidation.
The QBCC said this week it’s now picking apart his report as a he remains banned from providing financial data to the agency in relation to any licensed builder across the state.
Richardson did not return phone calls seeking comment.
By contrast, Reibelt was startled to learn yesterday that his name was on the QBCC website when City Beat rang for a chat.
He was black-listed after he allegedly failed to sufficiently test evidence or check client claims related to now-failed Mackay builder River City Homes.
“I was trying to do the right thing by verifying the clients had the assets to back up a director’s guarantee and she (one of the regulators) was worried about $2 of issued capital in the company,’’ said Reibelt, a former finance director at Blue Sky Private Equity.
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