Two more accounting firms censured by Canadian audit watchdog

After censuring seven accounting firms in 2023, the Canadian Public Accountability Board has added two more Canadian auditors to the list in 2024. Kingston Ross Pasnak LLP of Alberta was sanctioned in June and Macias Gini & O’Connell LLP, which is based in Los Angeles and does not have offices in Canada, was sanctioned in April. One other accounting firm, Manning Elliott LLP, which is based in British Columbia, had its 2023 prohibitions modified in March of this year.  While the accounting profession is regulated provincially, CPAB is responsible for overseeing the audits performed by registered public accounting firms, which includes inspections of audit engagements and sanctions against auditors that violate its rules.