2020 – Summary of Decision re: Edward Cyr formerly carrying on business as Edward A. Cyr, CPA, CGA

December 9, 2020

Summary of Complaint

Edward Cyr issued a review engagement report for a long-standing client without the required Review License in 2020. He had previously held a Review License, which he chose not to renew in 2018.  He then submitted false or misleading information to CPA Nova Scotia on his planning questionnaire to the Director of Professional Standards in 2019 which stated that his practice did not include the preparation of review engagements.

Disposition

Following an investigation, the Investigation Panel determined that there is sufficient evidence that, if proven, would constitute professional misconduct, incompetence or conduct unbecoming warranting a registration sanction, and the matter was resolved by a Resolution Agreement. Mr. Cyr is reprimanded for the conduct described above and has agreed to retire as an active member in CPA Nova Scotia.

Sanctions

The Resolution Agreement between the Investigation Panel and Respondent includes the following terms:

a)      The Respondent accepts a Reprimand;

b)     The Respondent will permanently retire with an undertaking not to return to the work force or offer public accounting or regulated services to the public. The workforce includes self-employment or employment where he applies any of the technical competencies as defined by the CPA Canada’s Chartered Professional Accountancy Competency Map;

c)      The Respondent undertakes not to serve on any board or similar governing body, or an audit, finance, or similar governance committee;

d)     The Respondent will cease using the “CPA, CGA” designation; and

e)     The Respondent will de-register his firm, Edward A. Cyr, CPA, CGA.

 

The Reprimand and Resolution Agreement became effective on November 12, 2020.