The member was the lead partner for several audits of the annual financial statements of two public companies. The Investigation Committee has determined that grounds exist for an allegation that the member contravened Rules of Professional Conduct of the Institute of Chartered Accountants of British Columbia 201.1, 202.1, 203 and 206.1. While it is the Committee’s view that a Statement of Complaint would allege that there were certain deficiencies with generally accepted auditing standards in the work performed, it is the Committee’s recommendation that a Statement of Complaint not be issued on condition that the member:
- accept a reprimand;
- pay a fine of $15,000;
- pay costs of the investigation of $71,172 plus GST of $3,558.60; and
- agree to the publication on the publicly accessible section of CPABC’s website of a notice concerning this Determination and Recommendation for a total period of two years.