It's time for an update in the accounting profession.
Firstly, the use of the title "accountant" should be
regulated; and secondly, while we're at it, it's also time
for a tax specialization designation. While our firm is a tax law
firm, I personally am a professionally designated accountant
working with lawyers day-to-day. Given such, I'm going to
tackle these important issues from the lens of an accountant in
this short opinion piece.
On December 14, 2018, the media reported on the conviction of an Alberta
"accountant" who had participated in tax fraud. The trial
decision can be read here and the sentencing decision here. Overly simplified, the
"accountant" had first been convicted of theft over
$5,000 in 2010. He then received a sentence of 15 months in prison
in relation to failing to direct funds obtained from his clients to
the Government of Canada (these funds were intended to be credited
towards his clients' income tax accounts). On July 14, 2010,
the
