On 22 November 2017 the Institute’s Disciplinary Committee found proved the following allegations against Mr Stavros Costa Michalas, membership no.2069, and his firm Stavros Costa Michalas & Co:
- When applying to the Institute for renewal of their practising certificates for the years 2014 and 2015, they submitted copies of the insurance cover showing that they had coverage for the said years, while the copies were forged.
- Failure to maintain professional indemnity insurance cover for 2014 and 2015 despite the fact that they were in possession of audit practicing certificates.
The Disciplinary Committee ordered that Mr Stavros Costa Michalas be excluded from membership for a period of 3 years and pay costs amounting to €660, and the firm be banned from obtaining a practising certificate for ever.