Adjudicative Tribunal Decisions – Summer 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: Mayada A. Anis (1985, Etobicoke) [revoked CPA, CA]
Rule:
Rule 201.1 – Maintenance of the good reputation of the profession
Conduct:
The Member failed to maintain the good reputation of the profession and its ability to serve the public interest by misappropriating over $1.3 million from the company she worked at and committing multiple acts of dishonesty resulting in a contempt order by the Superior Court of Justice.
Finding:
On April 5, 2024, the Member was found to have committed professional misconduct by breaching Rule 201.1 of the CPA Code of Professional Conduct.
Sanction:
- Reprimand
- $75,000 fine
- Revocation of membership
- Notice to all members of CPA Ontario, all provincial CPA bodies, and the public
- Newspaper Publication
Costs: $4,700
File: Discipline File
Name: Xiangdong (Sheldon) Lu (2007, Mississauga) [suspended CPA, CMA]
Rule:
Rule 201.1 – Maintenance of the good reputation of the profession
Rule 205 - False or misleading documents and oral representations
Conduct:
During the negotiation of a sale of a business, the Member failed to act in a manner which would maintain the good reputation of the profession and serve the public interest and made or associated with statements and representations that he knew, or should have known, were false or misleading .
Finding:
On April 22, 2024, the Member was found to have committed professional misconduct by breaching Rules 201.1 and 205 of the CPA Code of Professional Conduct.
Sanction:
- Reprimand
- $15,000 fine
- Suspension of membership for a period of 12 months
- Attend and successfully complete 10 hours of professional development courses offered by CPA Ontario related to ethical obligations of a CPA
- Notice to all members of CPA Ontario, all provincial bodies, and the public
Costs: $26,000
File: Discipline File
Name: Laert Kasaj (2015, Thornhill) [revoked CPA, CGA]
Rule:
Rule 103 - False or misleading applications
Rule 201.1 – Maintenance of the good reputation of the profession
Conduct:
The Member failed to act in a manner which would maintain the good reputation of the profession and serve the public interest as a result of being convicted of aiding and abetting the importation of drugs into Australia. The Member also made false and misleading statements to CPA Ontario about this conviction when applying for readmission to membership.
Finding:
On May 22, 2024, the Member was found to have committed professional misconduct by breaching Rules 103 and 201.1 of the CPA Code of Professional Conduct.
Sanction:
- $40,000 fine
- Revocation of membership
- Notice to all members of CPA Ontario, all provincial bodies, and the public
- Newspaper Publication
File: Discipline File
Name: Shelley S. Shifman (1975, North York) [revoked CPA, CA]
Rule:
Rule 104 - Requirement to co-operate
Rule 201.1 - Maintenance of the good reputation of the profession
Rule 209.1 – Borrowing from clients
Conduct:
The member engaged in prohibited borrowing from two clients. He failed to maintain the good reputation of the profession and serve the public interest when, regarding the first loan, he failed to take responsible steps to ensure the client obtained independent advice and failed to repay the loan, and regarding the second loan, he failed to document the loan, issued a cheque for which he knew there were insufficient funds, and failed to repay the loan. He also failed co-operate with the regulatory process of CPA Ontario.
Finding:
On May 16, 2024, the Member was found to have committed professional misconduct by breaching Rules 104, 201.1, and 209.1 of the CPA Code of Professional Conduct.
Sanction:
- $50,000 fine
- Revocation of membership
- Notice to all members of CPA Ontario, all provincial bodies, and the public
- Newspaper Publication
Costs:$25,000
File: