Jim Huang

The Professional Conduct Committee alleged that 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.

The allegations related to multiple audit, review, and compilation engagements, including audits of reporting issuers, where significant deficiencies were identified.

The member admitted the allegations.

The Discipline Committee found that the allegations were established and constituted professional misconduct.

The Committee ordered that the member's assurance practice be restricted to permanently prohibit him from performing audits of reporting issuers, that he enter into an 18-month supervision agreement for all other assurance engagements, and that he pay a $25,000 fine and $42,000 in costs.

The Professional Conduct Committee alleged that the Member committed professional misconduct by failing to cooperate with two investigations into complaints from former clients.

The Member did not attend the hearing.

The Discipline Committee found that the Member breached Rule 104.2 of the CPA Ontario Code of Professional Conduct by failing to respond to repeated communications from Standards Enforcement staff over several months.

The Committee ordered the Member to cooperate, pay a fine of $7,500, and pay costs of $2,800, failing which her membership would be suspended and ultimately revoked.