Mr. Donald W. Wood, CPA, CMA, of Vancouver, BC, was co-executor of a deceased client’s estate. He was also the accountant for a beneficiary of the estate. A dispute arose among the beneficiaries, including the other co-executor who was also a beneficiary of the estate. Mr. Wood:
- did not respond to requests and communications from the co-executor in a timely manner or at all;
- did not treat each beneficiary of the estate fairly;
- delayed reimbursing the co-executor for their expenses;
- did not provide tax documentation to the co-executor; and
- unreasonably delayed the settlement of the Estate.
The Investigation Committee determined that Mr. Wood contravened the following Rules of the CPABC Code of Professional Conduct:
201.1 - Maintenance of the good reputation of the profession
202.1 - Integrity and due care
210 - Conflicts of interest
The Committee recommended that Mr. Wood:
- accept a reprimand;
- pay a fine of $10,000; and
- pay investigation expenses of $3,694.