Adjudicative Tribunal Decisions – Fall 2024
The adjudicative committees of CPA Ontario are an independent tribunal that hears and decides disciplinary and regulatory matters referred to it by CPA Ontario and appeals from those matters. The most recent discipline decisions, settlement agreements, good character decisions, and appeal decisions can be found below.
Name: THUY NGUYEN, CPA, CGA (2008, OTTAWA)
Rule(s): Sections 24 to 37 of Regulation 6-2.
Conduct: The Applicant brought a motion for the reconsideration of a Decision by the Professional Conduct Tribunal of the Certified General Accountants Association of Ontario, dated April 23, 2014, revoking their membership.
Finding: On June 20, 2024, a hearing panel of the Discipline Committee ordered that Thuy Nguyen be readmitted to membership.
Sanction: N/A
Costs: N/A
Name: GURMEET ARORA, CPA, CGA (1993, SCARBOROUGH) [Settlement Agreement]
Conduct: The Member failed to perform his professional work in accordance with the generally accepted standards of practice of the profession contrary to Rule 206.1 of the CPA Ontario Code of Professional Conduct. With respect to the Quality Assurance Manual, the Member failed to perform his professional services in accordance with generally accepted standards of practice of the profession, contrary to Rule 206.1 of the CPA Ontario Code of Professional Conduct.
Terms:
- $10,000 fine
- Revocation of Public Accounting Licence
- Practice restriction, prohibiting him from performing any assurance agreements
- Notice to all members of CPA Ontario, the Public Accounting Standards Committee, all provincial CPA bodies, and the public
- Newspaper Publication
- $17,500 Costs
Name: STEPHEN A. DIAMOND, CPA, CGA (1982, TORONTO) [Settlement Agreement]
Conduct: The Member failed to perform his professional work in accordance with the generally accepted standards of practice of the profession contrary to Rule 206.1 of the CPA Ontario Code of Professional Conduct.
Terms:
- $12,000 fine
- Surrender of Public Accounting Licence
- Practice restriction, prohibiting him from carrying out any assurance engagement
- Notice to all members of CPA Ontario, the Public Accounting Standards Committee, and all provincial CPA bodies, and the public
- Newspaper Publication
- $20,000 Costs
Name: DANIEL DIAMOND (2009, Thornhill) [Suspended CPA, CA]
Rule:
Rule 104.1 – Requirement to co-operate.
Rule 202.2 – Requirement to not allow one’s professional or business judgment to be compromised by bias, conflict of interest or the undue influence of others.
Rule 206.1 – Compliance with professional standards.
Conduct: During an audit, the Member allowed his professional judgment to be compromised contrary to Rule 202.2 of the CPA Code of Professional Conduct (Code). He also failed to perform his professional work in accordance with the generally accepted standards of practice of the profession and failed to cooperate with the processes of CPA Ontario, contrary to Rules 206.1 and 104.1 of the Code.
Finding: On July 18, 2024, the Member was found to have committed professional misconduct by breaching Rules 104.1, 202.2 and 206.1 of the CPA Code of Professional Conduct.
Sanction:
- $75,000 fine
- Suspension of membership and Public Accounting Licence for 9 months
- Notice to all members of CPA Ontario, the Public Accounting Standards Committee, all provincial CPA bodies, and the public
- Newspaper Publication
Costs: $35,000
Name: JEFFREY R.G. JACKSON, CPA, CA (1984, Etobicoke)
Rule:
Rule 201.1 – Maintenance of the good reputation of the profession
Rule 206.1 – Compliance with professional standards
Conduct: While engaged to perform an audit, audit engagement and a review engagement, the Member failed to maintain the good reputation of the profession and perform his professional work in accordance with the generally accepted standards of practice of the profession contrary to Rules 201.1 and 206.1 of the CPA Code of Professional Conduct.
Finding: On July 10, 2024, the Member was found to have committed professional misconduct by breaching Rule 201.1 and 206.1 of the CPA Code of Professional Conduct.
Sanction:
- Practice restriction, permanently prohibiting him from accepting engagements of reporting issuers
- Requirement to enter into a Supervision Agreement for 18 months with a qualified independent Supervisor for review of all non-reporting issuer assurance work undertaken
- Requirement to successfully complete professional development courses
- Reinvestigation of the Member's assurance practice following the supervision period
- Notice to all members of CPA Ontario, the Public Accounting Standard Committee, all provincial CPA bodies, and the public
- Newspaper publication
Costs: $32,400