Regulatory body suspends membership of P.E.I. accountant for 2 years

A Charlottetown-based chartered professional accountant has had his membership suspended for two years by his profession's regulatory body.

A notice on the Chartered Professional Accountants of Prince Edward Island site says Rodney R. Payne was suspended as of Dec. 1, 2022, "for a period of at least 24 months" after a complaint was filed with the registrar.

The notice says that complaint alleged Payne engaged in conduct that "falls below the standards of the profession, including failure to complete tasks and to file required documentation which led to dishonesty and lack of candour towards clients and the Canada Revenue Agency."

Payne must pay costs of $25,000 in connection with the investigation, the notice says. If he wants to be reinstated after the 24-month suspension, he will have to operate under a monitor's supervision for 12 months. He must also take additional ethics training. 

Payne worked at Fitzpatrick & Co. until a little over a year ago, a staff member told CBC News. The firm would not share any other details. 

Payne declined to comment, citing significant privacy and confidentiality concerns. 

The chartered professional accountants' regulatory body didn't respond to requests for more information or an interview.