Deloitte pays $1.59 million to CPA Ontario for breaching code of conduct

  TORONTO - CPA Ontario says Toronto-based Deloitte LLP has paid $1.59 million in fines and costs for breaching the regulatory body's code of professional conduct. In a press release Tuesday, CPA Ontario says a number of Deloitte auditors backdated audit working paper signoffs between November 2016 and May 2018. They did so by changing the date and time settings on their computer clocks to manually override controls in Deloitte's audit software. The organization says that during the year-and-a-half-long period, more than 930 audit working papers were backdated in at least 39 audit engagements. CPA Ontario says Deloitte admitted to failing to have the necessary policies and procedures in place to ensure standards of practice were being followed. It says it has taken into account remediation efforts by Deloitte, including improvements to quality control, internal discipline and mandatory training. This report by The Canadian Press was first published Oct. 31, 2023.