The Member was retained by a client to prepare and file the client’s personal tax returns for 2019 to 2022. The Member failed to prepare a Form T1134 (Information Return Relating to Controlled and Non-Controlled Foreign Affiliates) for 2021 and 2022. As a result, the client was assessed penalties and interest by the Canada Revenue Agency.
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
203 - Professional competence
205 (a) - False or misleading documents
The Investigation Committee recommended that the Member:
- accept a reprimand;
- pay a fine of $10,000;
- pay investigation expenses of $9,232; and
- attend and successfully complete a professional development course in ethics which is satisfactory to the Director, Professional Conduct.