Du Val accountant Nicola Adam censured, ordered to pay $48,000

NZ Herald

17 Sep, 2025 03:04 AMQuick Read

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Herbert Morton accountant Nicola Adam has been fined and censured.

Waikato chartered accountant Nicola Adam has been censured and ordered to pay $48,000 in fines and costs over her actions after the collapse of property development group Du Val.

The penalties come after she pleaded guilty to four charges at a New Zealand Institute of Chartered Accountants (NZICA) Disciplinary
Tribunal hearing in July.

The $25,000 fine is at the upper end of tribunal penalties.

Adam, a director of Cambridge firm Herbert Morton, was a tax and compliance accountant for the Du Val group, which was put into receivership and then statutory management in August 2024.

She acted on instruction from Kenyon Clarke and minority shareholders.