Peter F. Kuebler, CPA

Securities Exchange Act of 1934
Release No. 48901 / December 10, 2003

Accounting and Auditing Enforcement
Release No. 1920 / December 10, 2003

Administrative Proceeding
File No. 3-9568


In the Matter of

Peter F. Kuebler, CPA

Respondent.


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ORDER GRANTING APPLICATION FOR REINSTATEMENT TO APPEAR AND PRACTICE BEFORE THE COMMISSION AS AN ACCOUNTANT RESPONSIBLE FOR THE PREPARATION OR REVIEW OF FINANCIAL STATEMENTS REQUIRED TO BE FILED WITH THE COMMISSION

On July 31, 1998, Peter F. Kuebler, CPA ("Kuebler"), was denied the privilege of appearing or practicing before the Commission as an accountant as a result of settled public administrative proceedings instituted by the Commission against Kuebler pursuant to Rule 102(e) of the Commission's Rules of Practice.1 This order is issued in response to his application for reinstatement to appear and practice before the Commission as an accountant responsible for the preparation or review of financial statements required to be filed with the Commission.

Kuebler, an inactive CPA in the state of California, was Vice President and Chief Financial Officer of Wilshire Technologies, Inc. ("Wilshire"), a manufacturer and marketer of medical, clean room and transdermal drug delivery products, from November 1992 through March 1994. The original order alleges that Kuebler knew, or was reckless in not knowing, that Wilshire's financial statements, from at least July 1993 through January 1994, were materially false and misleading and that Kuebler falsified, or caused to be falsified, accounting entries to Wilshire's books and records. The original order also alleges that Kuebler omitted to state material facts to Wilshire's auditors in connection with the fiscal year 1993 audit of Wilshire's financial statements.2

In his capacity as an accountant responsible for the preparation or review of financial statements of a public company to be filed with the Commission, Kuebler has undertaken to have his work reviewed by the independent audit committee of the company for which he then works, or in some other manner acceptable to the Commission, while practicing before the Commission in this manner. Kuebler is not, at this time, seeking to practice before the Commission as an independent accountant and has represented to the Commission staff that if he should wish to resume practicing before the Commission as an independent accountant, he will submit an application to the Commission showing that he has complied and will comply with the terms of the original suspension order in this regard. Therefore, Kuebler's suspension from practice before the Commission as an independent accountant continues in effect until the Commission determines that a sufficient showing has been made in this regard in accordance with the terms of the original suspension order.

Rule 102(e)(5) of the Commission's Rules of Practice governs applications for reinstatement, and provides that the Commission may reinstate the privilege to appear and practice before the Commission "for good cause shown." This "good cause" determination is necessarily highly fact specific.

On the basis of information supplied, representations made, and undertakings agreed to by Kuebler, it appears that Kuebler has complied with the terms of the July 31, 1998 order suspending him from practice before the Commission as an accountant, that no information has come to the attention of the Commission relating to his character, integrity, professional conduct or qualifications to practice before the Commission that would be a basis for adverse action against Kuebler pursuant to Rule 102(e) of the Commission's Rules of Practice, and that Kuebler, by undertaking to have his work reviewed by the independent audit committee of the company for which he then works, or in some other manner acceptable to the Commission, in his practice before the Commission as a preparer or reviewer of financial statements required to be filed with the Commission, has shown good cause for reinstatement. Therefore, it is accordingly,

ORDERED pursuant to Rule 102(e)(5)(i) of the Commission's Rules of Practice that Peter F. Kuebler, CPA, is hereby reinstated to appear and practice before the Commission as an accountant responsible for the preparation or review of financial statements required to be filed with the Commission.

By the Commission.

Jonathan G. Katz
Secretary

Endnotes

1 See Accounting and Auditing Enforcement Rel. No. 1060, In the Matter of Peter F. Kuebler, CPA, July 31, 1998. Kuebler was permitted, pursuant to the order, to apply for reinstatement after four years upon making certain showings. Rule 102(e)(5)(i) provides:

"An application for reinstatement of a person permanently suspended or disqualified under paragraph (e)(1) or (e)(3) of this section may be made at any time, and the applicant may, in the Commission's discretion, be afforded a hearing; however, the suspension or disqualification shall continue unless and until the applicant has been reinstated by the Commission for good cause." 17 C.F.R. § 201.102(e)(5)(i).

2 Prior to the original order, Kuebler consented to the entry of a judgment permanently enjoining him from violating Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 10b-5, 12b-20, 13a-13, 13b2-1 and 13b2-2 thereunder, without admitting or denying any of the allegations that were later referenced in the original order.