B-1, r. 3 - Code of ethics of advocates

Section 3.05.19 Disposition versions

2012-09-01

3.05.19. An advocate shall not provide professional services to the client respecting a matter or issue which could have a significant effect on the financial statements of the client for a given fiscal year when, for the same period, he or another person engaging in his professional activities within the same partnership or joint-stock company is responsible for an audit or review engagement within the meaning of the Handbook of the Canadian Institute of Chartered Accountants.

Nonetheless, he may provide his professional services in the circumstances contemplated in the first paragraph when he or another person engaging in his professional activities within the same partnership or joint-stock company is responsible for a review engagement, if the following conditions have been met:

(1)  the client is a partnership or legal person which has not made a distribution of its securities to the public; and

(2)  the shareholders or members unanimously and knowingly waive the benefit of the rule set forth in the first paragraph.

Similarly, where the client is a natural person, the provisions of the first paragraph do not apply if such person knowingly waives the benefit of their application.

O.C. 351-2004, s. 47.