The Institute of Chartered Accountants of Ireland (ICAI) has suspended a member who owes the Revenue Commissioners more than €40,000. Barry O'Halloranreports.

The institute's disciplinary arm - the Chartered Accountants' Regulatory Board (Carb) - said yesterday that it had suspended accountant Michael Norris, of Monastery Lodge, Enniskerry, Co Wicklow.

Mr Norris was suspended following a disciplinary tribunal on July 26th as he had a tax judgment for €44,066.14 registered against him in the High Court.

The court made the judgment against Mr Norris in November 2005.

Tax judgments are normally registered against people who have failed to pay the Revenue Commissioners on time. They generally include a principal sum, interest and penalties.

The Carb's statement said its disciplinary tribunal "made an order that Mr Norris be suspended from membership until such time as the judgment debt against him has been fully discharged".

The tribunal also found that Mr Norris failed to respond adequately or at all to correspondence from the regulatory board's secretary.

As many accountants give tax advice and prepare returns to the Revenue for their clients, ICAI members have to comply fully with tax law and discharge all their Revenue liabilities to maintain membership.

If accountants fail to do this, the institute suspends their membership until they pay their tax bills. Suspension means that Mr Norris loses his rights as a member of the institute.

While this will not prevent him from practising accountancy, it means that he will not be allowed to conduct audits or give professional investment advice. Only members of professional bodies such as the ICAI can carry out audits or give professional investment advice, as these are so-called reserved areas.

However, he will be able to provide other accounting services.

The institute established the Carb in April this year to regulate its members independently.

It publishes details of findings against members.