The Member was the engagement partner for a review engagement of the financial statements of a client. At the time of the engagement, the Member and their spouse held a minor share interest (0.27%) in the client.
The Investigation Committee determined that the Member 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
204.4 - Specific Prohibitions, Assurance and Specified Auditing Procedures Engagements -- Financial interests
206.1 - Compliance with professional standards
The Committee recommended that the Member:
- accept a reprimand; and
- pay investigation expenses of $2,015.