A Kerry-based accountant was reprimanded and ordered to pay costs of €12,000 yesterday by an Institute of Chartered Accountants (ICAI) disciplinary tribunal which upheld four out of five complaints against him.

The tribunal found that between 1994 and 1998 Mr Raymond Kelliher failed to ensure, as a director of KG Giftware, that the company fulfilled its statutory obligation to hold annual general meetings and that the company fulfilled its statutory obligation to lay audited financial statements before the company in general meeting as required by the Companies Act 1963.

Mr Kelliher said he had tendered his resignation to the company in September 1994, but that the company had not filed his resignation and that he was unaware of this. When he became active in the company again in 1997, Mr Kelliher said he understood that he was no longer a director.

But tribunal chairman Mr Brian Garrett said it believed he did remain a director of the company and his resignation, if tendered, had never been accepted.

Mr Kelliher has 21 days to appeal the decision.