CPA Ontario Prosecutes BF Borgers CPA PC and Ben Borgers for Breach of CPA Registration and Licensing Requirements

TORONTO, Aug. 26, 2024 /CNW/ - CPA Ontario, the regulatory body responsible for the licensing and oversight of Chartered Professional Accountants and accounting firms in Ontario, has prosecuted BF Borgers CPA PC and Ben Borgers, of Lakewood, Colorado, for offences under the Chartered Professional Accountants of Ontario Act, 2017, and the Public Accounting Act, 2004.

Borgers and the Firm pleaded guilty to engaging in public accounting work in Ontario, including performing the audit of a reporting issuer, without registering with CPA Ontario or holding a Public Accounting License in Ontario.

"We continue to take action against accounting firms and CPAs who fail to comply with our requirements to practice in the province, in accordance with our mandate to protect the public and uphold the high standards of the CPA profession," said Janet Gillies, CPA, CA, executive vice-president, Regulatory and Standards, CPA Ontario. "Unregistered and unlicensed firms and CPAs operating in Ontario bypass essential regulatory oversight, undermining public protection and confidence in public accounting." 

The Order of the Ontario Court of Justice requires the Firm and Borgers to pay total fines of $50,000 to the Government of Ontario and $15,000 to CPA Ontario in respect of its costs of the investigation and prosecution. The Order also places the Firm and Borgers on probation for two years. BF Borgers CPA PC and Ben Borgers continue to be unauthorized and unlicensed to practice public accounting in Ontario.

About CPA Ontario

CPA Ontario governs and regulates CPAs and accounting firms in Ontario. We grant CPA designations and public accounting licenses. We enforce the highest professional and ethical standards, provide professional guidance and support the continuing development of our members. We educate and assess students, so they are ready for market demands. We enable mobility of CPAs through inter-provincial and international agreements. We are a community of over 100,000 CPAs and 20,000 students in Ontario.

SOURCE CPA Ontario

Media contact: Kat Hanley, [email protected]