PwC pays $1.45 million in fines to CPA Ontario for breaching code of conduct
By The Canadian Press on December 13, 2023.
TORONTO – CPA Ontario says accounting firm PwC has paid $1.45 million in fines and costs after 445 staff shared answers during mandatory internal training assessments between 2016 and 2020. CPA Ontario says PwC self-reported the breach of the regulatory organization’s code of professional conduct. The training was on accounting and auditing standards, audit strategy, planning, procedures and documentation, professional integrity and independence matters, and other issues related to audits. CPA Ontario says the firm admitted to breaching its code of conduct. The firm has paid a fine of $1 million and a further $455,000 in costs to CPA Ontario. The regulatory organization says it has taken into account the remedial actions by PwC, which include ongoing periodic monitoring and internal discipline. This report by The Canadian Press was first published Dec. 13, 2023. 8-7
