• First Reference
  • About us
  • Contact us
  • Free Coronavirus FAQ 🔬
  • Free Newsletter 📨
  • Get PolicyPro Free Trial 🎉

First Reference Talks

Discussions on Human Resources, Employment Law, Payroll and Internal Controls

  • Home
  • About
  • Archives
  • Resources
You are here: Home / Business / Audit errors at public company lead to substantial fine and other penalties

By Adam Gorley | < 1 Minute Read August 17, 2011

Audit errors at public company lead to substantial fine and other penalties

“Never before has it been so challenging to stay current.”
I’m sure that’s a sentiment you can understand; but with respect to accounting, it’s especially crucial.
eraseIn one recent case (link above), featuring the sort of procedural breaches that I presume make accountants cringe and the type of language that only accountants can understand, a chartered accountants firm was rebuked for its failings in an audit of a public company. A shareholder noticed something strange, and the irregularities led to an investigation by the Professional Conduct Enquiry Committee of the Institute of Chartered Accountants of British Columbia.
What does this mean for you? Well, for one, if you or your accountants don’t have the required up-to-date knowledge to prepare and audit your financials, you might find yourself in legal trouble. For another, financial reporting failures can damage more than just your immediate finances; your reputation with shareholders and the public is at stake too.
Adam Gorley
First Reference Internal Controls, Human Resources and Compliance Editor

  • About
  • Latest Posts
Follow me

Adam Gorley

Editor at First Reference Inc.
Adam Gorley is a copywriter, editor and researcher at First Reference. He contributes regularly to First Reference Talks, Inside Internal Controls and other First Reference publications. He writes about general HR issues, accessibility, privacy, technology in the workplace, accommodation, violence and harassment, internal controls and more.
Follow me

Latest posts by Adam Gorley (see all)

  • Legal recreational marijuana: how can you address the workplace risks? - October 15, 2018
  • Jeffrey Sherman to present at GTA Accountants Network | Early-bird rates, CPD hours - September 28, 2018
  • 2018 will be a pivotal year for employers and HR managers in Ontario – #LearnTheLatest - April 20, 2018

Article by Adam Gorley / Business, Finance and Accounting / accountants, audit error, British Columbia, Institute of Chartered Accountants of British Columbia, procedural breach, Professional Conduct Enquiry Committee, public company audit, reporting failure

Share with a friend or colleague

Learn the 10 essential HR policies in the time of COVID-19

Get the Latest Posts in your Inbox for Free!

About Adam Gorley

Adam Gorley is a copywriter, editor and researcher at First Reference. He contributes regularly to First Reference Talks, Inside Internal Controls and other First Reference publications. He writes about general HR issues, accessibility, privacy, technology in the workplace, accommodation, violence and harassment, internal controls and more.

Footer

About us

Established in 1995, First Reference Inc. (known as La Référence in Quebec) provides Canadian organizations of any size with practical and authoritative resources to help ensure compliance.

First Reference Talks

  • Home
  • About
  • Archives
  • Resources

Main Menu

  • About First Reference
  • Resources
  • Contact us
  • 1 800 750 8175

Stay Connected

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

We welcome your comments on our blog articles. However, we do not respond to specific legal questions in this space.
We do not provide any form of legal advice or legal opinion. Please consult a lawyer in your jurisdiction or try one of our products.


Copyright © 2009 - 2021 · First Reference Inc. · All Rights Reserved
Legal and Copyright Notices · Publisher's Disclaimer · Privacy Policy · Accessibility Policy