Report on Reportable Deficiencies 2017-2018

The Practice Inspection Committee has now issued its Report on Reportable Deficiencies for the 2017-2018 fiscal year. This annual report contains valuable information on common theme deficiencies of firms inspected in the 2017-2018 inspection cycle.

Practice Inspection Committee

  • John Clark, CPA, CA (Chair)
  • Blair Northcott, CPA, CA
  • Peter Spacek, CPA, CA
  • Lucie Nadeau Frenette, CPA, CA
  • Donald Cormier, CPA, CA
  • Carol LeBlanc, CPA, CMA 

The mandate of the Practice Inspection Committee (“PIC”) is to oversee practice inspections of all public practices registered with CPA New Brunswick in a manner that will conform, to the greatest extent possible, with the harmonized practice inspection program.

The committee's role is to protect the public interest while at the same time providing a learning opportunity for public practices by assessing the compliance with professional standards of members/ firms who perform assurance, compilation and other specified engagements, and by taking appropriate follow-up or remedial actions in instances of non-compliance.

These inspections are done by practice inspectors (“PI”) who have met specific conditions to qualify as inspectors including targeted training. In 2017-2018, there were 11 “PIs”.

The 2017-2018 inspection cycle included 44 firms (40 in 2016-17), 6 of which were re-inspections from the previous year’s inspection cycle (5 in 2016-17).

The “PIC” has now issued its Report on Reportable Deficiencies for the 2017-2018 fiscal year. This annual report contains valuable information on common theme deficiencies of firms inspected in the 2017-2018 inspection cycle.