IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, C.S.5, AS AMENDED
- AND -
IN THE MATTER OF ANDREW CAMPBELL
STATEMENT OF ALLEGATIONS
OF STAFF OF THE ONTARIO SECURITIES COMMISSION
Staff of the Ontario Securities Commission (“Staff”) make the following allegations:
I. THE RESPONDENT
1. At all relevant times, Andrew Campbell (“Campbell") was a chartered accountant who provided audit services as a sole proprietor.
2. At all relevant times, Campbell was the auditor for several reporting issuers in Ontario as defined in section 1.1 of the Act.
II. FAILURE TO REGISTER
4. CPAB is an independent public body that reviews and monitors practice requirements for auditors of reporting issuers.
5. Prior to March 30, 2004, CPAB notified Campbell of NI 52-108 and the requirement for CPAB registration.
6. Campbell failed to obtain CPAB registration. Between March 31, 2004 and May 17, 2004, Campbell prepared an auditor's report for six reporting issuers in Ontario. For preparing these auditor’s reports, Campbell was paid approximately $10,000.
7. To comply with section 2.2 of NI 52-108, the six reporting issuers must have their financial statements audited by a CPAB registered auditor. Two of the reporting issuers will restate their financial statements.
III. STAFF’S POSITION
DATED AT TORONTO this 21st day of December, 2004