Summary of Decision re: Paul Roderick formerly carrying on business as Roderick and Company Limited

Summary of Complaint and Investigation

The Practice Inspection Committee of CPA Nova Scotia referred a complaint to the CEO of CPA Nova Scotia regarding Paul Roderick, formerly with the designation CPA, CGA. The complaint was referred for investigation in accordance with procedures set out in the CPA Nova Scotia Bylaws after Mr. Roderick’s firm failed practice inspections in 2017, 2018, and 2019 with little or no improvement each year in the areas identified as deficiencies in the practice inspection reports. Deficiencies were identified in financial statements, review engagements, compilations, and quality control in the practice.

The Investigation Panel imposed two interim restrictions on Mr. Roderick’s practice pending completion of the investigation.  The first restriction, ordered on June 2, 2020, was the requirement that an interim monitor must approve his review engagements prior to their issuance pursuant to his public accounting license. The second restriction, ordered on September 24, 2020 following receipt of the investigator’s report, required that a monitor approve all other regulated services provided by the firm.

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. Roderick is reprimanded for the conduct described above and has agreed to resign his membership in CPA Nova Scotia.

Sanctions

The Resolution Agreement between the Investigation Panel and Mr. Roderick (“the Respondent”) includes the following terms:

  1. The Respondent accepts a Reprimand;
  2. The Respondent will resign from membership in CPA Nova Scotia;
  3. The Respondent will cease using the “CPA, CGA” designation;
  4. The Respondent will contribute to the costs incurred in the investigation of the complaint and monitoring of his practice in the amount of $8300; and
  5. The Respondent will de-register his firm, Roderick & Company Limited.

 

The Reprimand and Resolution Agreement became effective on March 19, 2021.