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Results: 91 - 105 of 226
View Peter Julian Profile
NDP (BC)
Thank you.
Do you know or have you ever met or spoken with Sandra Georgeson, Enzo Beretta or Anne Couper Woods?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:09
No. I don't know them.
I heard one of your colleagues say that Sarah—I believe that was the name that I heard—was asked to appear, but I had never heard her name before.
View Peter Julian Profile
NDP (BC)
So, you don't know any of those three people.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:10
View Tamara Jansen Profile
CPC (BC)
Mr. Bilodeau, you described a system that you called a risk management committee, which is a way in which KPMG ensures that their people are acting ethically and remain in compliance with the law. Is that correct?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:11
Exactly. It's risk management. This is referred to as a general anti‑avoidance measure.
The issue of whether a planning operation respects the spirit of the law is in large part a matter of interpretation. Like I said, there have been many cases like this and there is some case law to work with. All partners rely on an experienced team to help them get a good idea of the situation or issue at hand.
View Tamara Jansen Profile
CPC (BC)
Thank you.
Does KPMG U.S.A. have the same system of anti-tax avoidance through a risk management committee?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:12
I have no idea. I can't answer that question.
View Tamara Jansen Profile
CPC (BC)
Where would KPMG Canada have come up with the system of risk management that you described?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:12
It came from people who are involved in KPMG's management or from tax managers. With the legislation changes over the years, establishing a risk management committee seemed like a good idea.
The general anti‑avoidance measure has been in place since 1987. However, I don't know when KPMG created the risk management committee. I would have to ask the firm.
View Tamara Jansen Profile
CPC (BC)
Wouldn't it make sense that the American KPMG would have the same system? I would imagine that it's just as concerning to follow the law in the U.S. as it is here in Canada. It seems odd to me that you have no idea how KPMG does their risk management in the U.S.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:13
It's a concern in all countries.
View Tamara Jansen Profile
CPC (BC)
Yes, exactly.
I'm just curious, because obviously, whatever risk management system they have in place didn't seem to have worked in this case.
You mentioned that you're retired, but for some reason you decided to go into the KPMG office today to be a witness. Why did you decide to go to their office since you're retired, and as I understand it, haven't been working there for many years?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:13
Please allow me to clarify certain things. As I said in my opening remarks, I maintained ties with KPMG and I still work there as a consultant, but on a temporary basis. So, I still have a relationship with KPMG. I still go into the office, albeit not regularly. My relationship with KPMG is still good. After all, I worked there for 40 years.
View Tamara Jansen Profile
CPC (BC)
My understanding is that you have legal counsel with you there right now. Are you paying for that yourself, personally, or is that a KPMG expense? Are you paying for that personally?
Results: 91 - 105 of 226 | Page: 7 of 16

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