Bookstore faces bankruptcy after accounting misconduct

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Bookstore faces bankruptcy after accounting misconduct

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Our Family’s Book & Record Store: A Call for Community Support

Our Story

Hello, I'm Mark.

In 2005, my father, Robert, became the proud owner of one of Sydney’s most established book and record stores. With a career in accounting spanning six decades, he dedicated himself to both his profession and our store until his passing from oesophageal cancer in late 2022. For over 60 years, our shop has been a cherished part of northern beaches culture, and we are now seeking your support as we face a difficult period driven by issues with our accountant.

The Onset of Challenges

When my father was diagnosed with cancer in mid-2020, he entrusted the management of the store’s accounts to an accountant so he could focus on his treatment. After Robert’s passing, my mother, Patricia, who does not have an accounting background, asked the same accountant to continue handling the store’s financial affairs. Unfortunately, the accountant provided Patricia with misleading and false advice, which resulted in a substantial fine from the ATO. Instead of taking responsibility, the accountant blamed both my father and Patricia for the situation. He warned my mother that failing to follow his guidance could lead to bankruptcy and the loss of her property, using fear to control her decisions. His dishonesty and inaction directly contributed to the mounting debts. At one point, the accountant even attempted to take $4,000 from Patricia, claiming it was needed to hire a forensic accountant. Patricia felt trapped by the accountant’s threats and promises, unsure of where to turn for help.

Seeking Help and Taking Action
After discovering the accountant’s misconduct, I reached out to a financial counsellor, who explained the process for investigating the accountant’s actions. Due to fear of repercussions, we initially refrained from reporting the issue. However, as the situation worsened and we faced bankruptcy as a result of the accountant’s malpractice, we made the decision to report the case to the tax practitioner’s board. The investigation is now underway and may take up to a year to conclude.

Our Appeal to the Community
While we anticipate that we may eventually recover the funds owed to us by the accountant, this process will take time. In the meantime, we urgently need your support to keep the store open. The loss of one of the last book and record shops on Sydney’s northern beaches would be a significant blow to the local culture. We kindly ask for your help in preserving this Dee Why institution for the community.


Thank you for your attention,

Mark, Stephen, and Patricia Hall.

Verse/ Halfback Books and Records, Dee Why.



Organizer

Patricia Hall
Organizer
Dee Why, NSW
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