The applicant, a former audit partner, sought judicial review of a decision by the Appeal Committee of the Chartered Professional Accountants of Ontario, which upheld a finding of professional misconduct against him.
The misconduct related to his failure to obtain sufficient and appropriate audit evidence regarding assets held by a service organization involved in the Madoff fraud.
The Divisional Court dismissed the application, finding that the disciplinary committees reasonably applied the codified auditing standards (U.S. GAAS) and did not reverse the onus of proof or apply an incorrect standard of practice.
