“The issue does not appear to be the number of merit less lawsuits that are filed, but
the fact that potential claims against the major accounting firms can be so large that
a judgment in any one case might force a firm into bankruptcy and result in further
consolidation of the audit profession.”
Conrad Hewit, Chief Accountant, Securities and Exchange Commission.
Institute of Chartered Accountants of Ontario
The Institute of Chartered Accountants of Ontario is the qualifying and regulatory body of Ontario’s 32,000 Chartered Accountants and 4,000 CA students. Since 1879, the Institute has protected the public interest through the CA profession’s high standards of qualification and the enforcement of its rules of professional conduct.
Ontario CAs work in public practice, industry, education, government and the not-for-profit sector, and serve every facet of society. They contribute greatly to international and domestic investor confidence in the soundness of the Ontario and Canadian economies.
Want more information? Browse through the collection of links and resources below to dig deeper into the issues.
RELATED LINKS AND RESOURCES
The Legal Environment
The Institute of Chartered Accountants of Ontario Legal Liability Brochure
News Release: Institute of Chartered Accountants of Ontario Submission to the Federal Competition Policy Review Panel
By Section: Institute of Chartered Accountants of Ontario Submission to the Federal Competition Policy Review Panel
Introduction by Institute President and CEO Brian Hunt, FCA
Canada in a Global Context
Becoming a Destination for Capital, Talent and Innovation
An Issue for Bay Street and Main Street
Real Businesses, Real Impacts
Keeping Up With the Neighbours
How Big is the Problem?
U.S. Chamber of Commerce: Auditing – A Profession at Risk
Charlie McCreevy's Speech on Statutory Audit Package
Charlie McCreevy's Report on Auditor Liability and other Issues for the Profession
Professional Standards
News Release: Institute of Chartered Accountants of Ontario Support Competition Panel Finding
Competition Policy Review Panel Compete to Win
Competition Bureau of Canada Report on Accounting Self-Regulation
News Release: Institute of Chartered Accountants of Ontario Responds to Competition Bureau Report
News Release: Institute of Chartered Accountants of Ontario Submission to Federal Competition Policy Review Panel
By Section: Institute of Chartered Accountants of Ontario Submission to Federal Competition Policy Review Panel