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Results: 31 - 45 of 174
View Pat Kelly Profile
CPC (AB)
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:46
It would be difficult for me to give you the reasons for that decision, because I was not part of the committee that made the decision to no longer recommend the structure.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Mr. Chair.
Good afternoon, Mr. Bilodeau.
From my point of view, creating a company in the Isle of Man, into which wealthy Canadian clients pour their fortune, so that the shell company can then pay them tax‑free donations, is completely immoral. I, for one, want to live in a society where such schemes are illegal. That is why the committee is doing this study on the situation.
I want to remind you that all witnesses who appear before committees of Parliament are protected by immunity, meaning that you do not have to worry about incriminating yourself or anyone else. If something were to be revealed, under no circumstances could it be used in a lawsuit. That is what the Law Clerk and Parliamentary Counsel of the House has reminded us. What we want to do is get to the bottom of it, and I think that this immunity allows us to do that.
To your knowledge, is there a connection between KPMG and the sword companies: Shashqua, Katar, Sceax, and Spatha?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:57
My former colleagues answered that question based on the analysis that was conducted.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:57
You will understand that I cannot testify and make assumptions about things I do not know. All I can confirm, as I mentioned in my opening remarks, is that I do not know these companies, I have never heard the names of these companies and I do not know the people involved.
I know that the firm was asked, and my former colleague, who is responsible for taxation in Canada, answered it.
View Gabriel Ste-Marie Profile
BQ (QC)
She actually didn't answer it, and we just passed a motion to have her answer it.
So let me confirm what you just told me: to your knowledge, there is no connection between KPMG and Shashqua, Katar, Sceax, and Spatha. Did I understand correctly?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:58
I don't know them, and the firm answered that it had no connection with those companies.
View Gabriel Ste-Marie Profile
BQ (QC)
I find it curious that you don't just say “yes, you're right”.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:58
Look, I'm strongly encouraging this committee to investigate the matter. If it appears that there has been fraud, that's not right and I would encourage your committee to continue its investigation. KPMG representatives will answer your questions, as they always have.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you for that thought, but I find your way of answering rather curious. I am just asking you to confirm that, to your knowledge, there is no link between the sword companies and KPMG. Your answer goes around and around and ends up back at your statement. It's as if there's something you don't want us to know, and I find that worrisome.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:59
No.
Mr. Ste‑Marie, I probably wasn't clear enough. In fact, there are two answers to your question.
First, there is my own personal answer, which regards my work as a partner and non‑partner at the firm. I believe that I clearly said that I don't know these companies and I don't have any ties with them.
Now, the second answer is KPMG's. As my colleague said in her previous appearance, efforts were made to look for ties with those companies across the firm as a whole, but nothing was found.
View Gabriel Ste-Marie Profile
BQ (QC)
I understand that there are no ties.
I also take it that you don't personally know anyone who, whether closely or remotely, worked with, had ties with or contributed to the operations of those companies with swords in their names: Shashqua, Katar, Sceax and Spatha. Is that correct?
View Ed Fast Profile
CPC (BC)
View Ed Fast Profile
2021-06-17 17:24
Mr. Bilodeau, I did want to ask you a specific question.
That OECD report specifically highlighted four things that could be done to address the issue of, what they refer to as, professional enablers. They're talking about accountants. Let's be very frank about that.
The first was engaging in more communication. The second was leveraging the role of supervisory bodies in industry sectors. Third was early disclosure, and then whistle-blowing, and then a strong approach to enforcement.
I want to ask you a question about the second part, and that is supervisory bodies. Those are your professional societies that are governed provincially. Are you aware of anyone within KPMG, any accountant within KPMG, having been disciplined or cited or censured as a result of the Isle of Man offshore structures?
Results: 31 - 45 of 174 | Page: 3 of 12

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