iscover CA loses membership for misappropriating $289k from social housing trust
BusinessA New Zealand-based accountant has had her CA status revoked after she spent $289,000 using the company credit for personal expenses, including flights and Uber Eats.
In an August decision published by CA ANZ last week, the New Zealand Institute of Chartered Accountants (NZICA) revoked the membership of accountant Ilaissane Atiola after she misappropriated $289,000 in company funds earmarked for social housing.
Atiola worked as a financial controller at a New Zealand-based social housing and mental health service provider. From January 2023 to January 2025, she used her company credit card for personal expenses, including cash withdrawals, Uber Eats, flights and alcohol, the disciplinary tribunal found.
“The unauthorised expenditure included large amounts of cash withdrawals, ATM withdrawals, purchases at petrol stations, flights and accommodation. Additionally there was an enormous amount of money spent on Uber Eats, restaurants, cafes, groceries and alcohol,” the ruling read.
“The amount involved and the fact that she misappropriated funds from a social housing trust designed to assist the homeless aggravates the seriousness of her actions.“
Atiola resigned from the company in January 2025, after she was confronted about her expenditure.
She had been first issued her company card in December 2019 and had signed a letter acknowledging the card’s terms of use. Atiola admitted she had misused the card for personal expenditure as soon as the transactions were raised with her, the decision noted.
The PCC found that Atiola’s misappropriation of “large amounts of client funds” constituted a significant breach of the Code of Ethics. It determined that the appropriate penalty was to revoke her membership of NZICA.
Atiola had been a member of the NZICA since March 2020. She said she wished to make repayments of the debt when she was able to do so, and as of August, had repaid $141,933.
The PCC acknowledged ‘mitigating features,’ including Atiola’s co-operation with the investigation and early acceptance of responsibility, but said this did not allow for a lesser penalty given the “sustained and deliberate” nature of her conduct.
“Atiola’s actions must not be condoned in the strongest possible terms. Misappropriation is incompatible with the trust and integrity reposed in Members and it would undermine the trust and confidence of the public in the profession should the Member be permitted to retain her membership,” the decision read.
The PCC also imposed full costs of the proceedings on Atiola, amounting to $14,834.
Emma Partis
Emma Partis is a journalist at Accountants Daily and Accounting Times, the leading sources of news, insight, and educational content for professionals in the accounting sector. Previously, Emma worked as a News Intern with Bloomberg News' economics and government team in Sydney. She studied econometrics and psychology at UNSW.
