Mystery of why accountant facing three-year ban on reporting

A Gold Coast accountant has been banned from providing financial reporting information on behalf of building licensees for three years by the state’s industry regulator.

PJC Business Consulting’s Kevin Fleiner is prohibited from acting as a “qualified accountant” to provide minimum financial requirements (MFR) reports until December 2026 under the Queensland Building and Construction Commission ban. The decision does not prevent Mr Fleiner from offering annual financial reporting services to building industry clients.

An accountant was last excluded by the QBCC in September, 2020.

The QBCC would not provide the specific reasons for Mr Fleiner’s penalty.

The Commission said that under legislation it could exclude an accountant if they had within the past three years: • Given information they knew to be false or misleading to a licensed contractor or the QBCC in relation to a licensed contractor’s satisfaction of the MFR;

• Failed to comply with the MFR in relation to information required to be given to the QBCC;

• Not complied with a requirement in a previous exclusion notice given to the accountant.

The QBCC states MFR regulations were introduced in 2019 to “reduce financial failure, liquidations, and bankruptcy” in the industry and ensure people are paid for their work.

Contractor-type licensees must meet several criteria – including maximum revenue and net tangible assets – under the framework.

QBCC commissioner Anissa Levy said financial reporting helped provide reassurances about the financial wellbeing of a licensee and that accountants played an important role in the process.

“Our strict financial reporting laws help protect industry members and homeowners, so the QBCC carefully monitors information provided by accountants and takes exclusion action against accountants in appropriate cases,” Ms Levy said. “We liaise regularly with accountants and their regulatory bodies to ensure they are aware of their responsibilities regarding MFR reporting and any other relevant legislation.”

Mr Fleiner, of Mudgeeraba, is the only person listed on the QBCC’s public register of excluded accountants.

The QBCC cannot disclose information that is not on a publicly available register.