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Whistleblowing or professional secrecy? The dilemma facing CPAs

  • Securities - AMF Image

Mar 09, 2017

In 2017, CPA Canada released guidance on whistleblowing. This spring, legislative provisions will come into force expressly authorizing the lifting of professional secrecy to facilitate whistleblowing. As a result, CPAs will have to learn to balance their moral duty to disclose wrongdoings with their obligation to protect professional secrecy on behalf of their clients and employer.

To provide clarity, the page reviews the essential facts on the matter:

  • The government’s campaign to facilitate the disclosure of wrongdoings
  • To disclose or not to disclose?
    • Promote internal disclosure first
    • Carefully assess the situation and seek legal counsel, as needed
    • Document the rationale behind the disclosure and the steps taken
  • Collaboration between the Order and government bodies
  • Trends at home and abroad

The whistleblower regulations will be effective in Quebec under the Autorité des marchés financiers whistleblower program.

Review the guidance on the CPA Quebec's website.

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